ProPetro Holding Corp. $PUMP Stake Lowered by Invesco Ltd.

Invesco Ltd. cut its stake in ProPetro Holding Corp. (NYSE:PUMP) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 901,092 shares of the company’s stock after selling 19,133 shares during the quarter. Invesco Ltd. owned approximately 0.87% of ProPetro worth $6,623,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in ProPetro in the first quarter valued at about $32,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of ProPetro by 6.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,114,259 shares of the company’s stock valued at $8,190,000 after buying an additional 63,686 shares during the last quarter. New Age Alpha Advisors LLC lifted its holdings in shares of ProPetro by 57.8% during the 1st quarter. New Age Alpha Advisors LLC now owns 172,403 shares of the company’s stock valued at $1,267,000 after buying an additional 63,120 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of ProPetro in the 1st quarter valued at approximately $603,000. Finally, Mackenzie Financial Corp acquired a new position in ProPetro in the first quarter worth approximately $107,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Trading Down 2.3%

Shares of NYSE:PUMP opened at $4.85 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.35 and a current ratio of 1.42. The stock’s 50-day moving average is $5.66 and its 200-day moving average is $6.20. The company has a market cap of $503.73 million, a P/E ratio of -3.30 and a beta of 1.18. ProPetro Holding Corp. has a 52-week low of $4.51 and a 52-week high of $11.17.

ProPetro (NYSE:PUMP) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). The business had revenue of $326.15 million for the quarter, compared to analyst estimates of $331.26 million. ProPetro had a positive return on equity of 1.84% and a negative net margin of 11.10%.ProPetro’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) EPS. Equities research analysts predict that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PUMP. Stifel Nicolaus set a $10.00 target price on shares of ProPetro and gave the company a “buy” rating in a research note on Wednesday, July 16th. Piper Sandler reduced their price objective on shares of ProPetro from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ProPetro from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, ProPetro currently has an average rating of “Hold” and an average price target of $8.80.

About ProPetro

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.