Inspire Investing LLC Boosts Stake in ProPetro Holding Corp. $PUMP

Inspire Investing LLC boosted its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 10.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,334 shares of the company’s stock after purchasing an additional 4,220 shares during the period. Inspire Investing LLC’s holdings in ProPetro were worth $341,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Nuveen LLC purchased a new position in shares of ProPetro in the 1st quarter worth $11,757,000. VR Advisory Services Ltd purchased a new position in ProPetro in the first quarter worth about $8,634,000. Pacer Advisors Inc. bought a new stake in shares of ProPetro during the 1st quarter valued at about $7,401,000. Philosophy Capital Management LLC lifted its stake in shares of ProPetro by 23.2% in the 1st quarter. Philosophy Capital Management LLC now owns 2,820,887 shares of the company’s stock worth $20,734,000 after purchasing an additional 531,751 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in ProPetro during the first quarter valued at approximately $3,348,000. Institutional investors own 84.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PUMP shares. JPMorgan Chase & Co. decreased their target price on ProPetro from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. Stifel Nicolaus set a $10.00 target price on shares of ProPetro and gave the stock a “buy” rating in a report on Wednesday, July 16th. Piper Sandler dropped their price target on shares of 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 shares of ProPetro from a “hold” rating to a “strong sell” rating in a research note on Monday, September 1st. Finally, Citigroup cut their price target on ProPetro from $6.50 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, September 9th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ProPetro presently has an average rating of “Hold” and an average target price of $7.80.

ProPetro Trading Down 1.4%

NYSE:PUMP opened at $4.75 on Thursday. 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 firm has a 50-day simple moving average of $5.20 and a 200-day simple moving average of $5.79. ProPetro Holding Corp. has a one year low of $4.51 and a one year high of $11.17. The firm has a market cap of $493.34 million, a P/E ratio of -3.23 and a beta of 1.13.

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

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.