Royce & Associates LP Grows Position in ProPetro Holding Corp. (NYSE:PUMP)

Royce & Associates LP lifted its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 10.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,027,265 shares of the company’s stock after purchasing an additional 96,126 shares during the period. Royce & Associates LP’s holdings in ProPetro were worth $7,550,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millennium Management LLC lifted its position in ProPetro by 359.2% during the fourth quarter. Millennium Management LLC now owns 508,817 shares of the company’s stock worth $4,747,000 after buying an additional 398,021 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of ProPetro during the 1st quarter worth $89,000. Principal Financial Group Inc. raised its holdings in shares of ProPetro by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 395,202 shares of the company’s stock worth $2,905,000 after acquiring an additional 10,434 shares during the period. Deutsche Bank AG boosted its position in shares of ProPetro by 47.5% during the 4th quarter. Deutsche Bank AG now owns 81,611 shares of the company’s stock valued at $761,000 after acquiring an additional 26,299 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of ProPetro by 714.0% in the first quarter. GAMMA Investing LLC now owns 36,191 shares of the company’s stock valued at $266,000 after purchasing an additional 31,745 shares during the period. 84.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PUMP shares. JPMorgan Chase & Co. reduced their target price on shares of ProPetro from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Piper Sandler assumed coverage on shares of ProPetro in a report on Monday, July 14th. They set a “neutral” rating and a $7.00 price target for the company. Finally, Stifel Nicolaus set a $10.00 price objective on ProPetro and gave the company a “buy” rating in a report on Wednesday, July 16th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, ProPetro has an average rating of “Hold” and an average target price of $9.00.

ProPetro Trading Down 1.9%

NYSE PUMP opened at $5.99 on Friday. ProPetro Holding Corp. has a 12 month low of $4.61 and a 12 month high of $11.17. The stock has a market capitalization of $622.11 million, a P/E ratio of -4.19 and a beta of 1.18. The firm’s 50-day moving average is $6.03 and its two-hundred day moving average is $6.96. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.44 and a quick ratio of 1.39.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. The firm had revenue of $359.42 million for the quarter, compared to analyst estimates of $344.36 million. ProPetro had a negative net margin of 10.60% and a positive return on equity of 2.16%. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. On average, sell-side analysts anticipate that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

ProPetro Company 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.