State of Wyoming Takes $48,000 Position in ProPetro Holding Corp. $PUMP

State of Wyoming purchased a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,489 shares of the company’s stock, valued at approximately $48,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trexquant Investment LP purchased a new position in ProPetro during the first quarter worth about $118,000. AlphaQuest LLC grew its position in ProPetro by 1,959.9% during the first quarter. AlphaQuest LLC now owns 66,122 shares of the company’s stock worth $486,000 after buying an additional 62,912 shares in the last quarter. Hsbc Holdings PLC grew its position in ProPetro by 3.5% during the first quarter. Hsbc Holdings PLC now owns 49,858 shares of the company’s stock worth $371,000 after buying an additional 1,675 shares in the last quarter. Quantbot Technologies LP grew its position in ProPetro by 466.1% during the first quarter. Quantbot Technologies LP now owns 151,280 shares of the company’s stock worth $1,112,000 after buying an additional 124,559 shares in the last quarter. Finally, Algert Global LLC purchased a new position in ProPetro during the first quarter worth about $504,000. 84.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PUMP has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on ProPetro from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, May 28th. Piper Sandler reduced their target price on ProPetro from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, August 14th. Zacks Research cut ProPetro from a “hold” rating to a “strong sell” rating in a research report on Monday, September 1st. Citigroup reduced their target price on ProPetro from $6.50 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus set a $10.00 target price on ProPetro and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ProPetro currently has an average rating of “Hold” and a consensus target price of $7.80.

ProPetro Stock Down 2.4%

Shares of PUMP opened at $4.55 on Wednesday. The firm has a market cap of $473.06 million, a P/E ratio of -3.10 and a beta of 1.13. ProPetro Holding Corp. has a 1 year low of $4.51 and a 1 year high of $11.17. The stock has a 50 day simple moving average of $5.39 and a two-hundred day simple moving average of $5.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.42 and a quick ratio of 1.35.

ProPetro (NYSE:PUMP) last issued its earnings results 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 company had revenue of $326.15 million for the quarter, compared to analysts’ expectations of $331.26 million. ProPetro had a negative net margin of 11.10% and a positive return on equity of 1.84%. The company’s revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) earnings per share. On average, analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal year.

ProPetro Profile

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.