Pacer Advisors Inc. Takes $7.40 Million Position in ProPetro Holding Corp. (NYSE:PUMP)

Pacer Advisors Inc. purchased a new position in ProPetro Holding Corp. (NYSE:PUMP) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,006,926 shares of the company’s stock, valued at approximately $7,401,000. Pacer Advisors Inc. owned 0.97% of ProPetro as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PUMP. Teacher Retirement System of Texas bought a new stake in shares of ProPetro during the 1st quarter valued at $89,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in ProPetro during the first quarter worth about $91,000. Raymond James Financial Inc. purchased a new stake in ProPetro in the fourth quarter worth about $94,000. Tower Research Capital LLC TRC grew its holdings in ProPetro by 101.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company’s stock worth $98,000 after purchasing an additional 5,270 shares during the period. Finally, Syon Capital LLC bought a new position in shares of ProPetro during the fourth quarter valued at approximately $108,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Stifel Nicolaus set a $10.00 price target on ProPetro and gave the stock a “buy” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. cut their target price on ProPetro from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Finally, Piper Sandler started coverage on ProPetro in a research report on Monday, July 14th. They issued a “neutral” rating and a $7.00 price target for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.00.

ProPetro Stock Performance

Shares of PUMP opened at $5.99 on Monday. The company has a market cap of $622.11 million, a price-to-earnings ratio of -4.19 and a beta of 1.18. The business’s fifty day simple moving average is $6.03 and its two-hundred day simple moving average is $6.93. ProPetro Holding Corp. has a 12 month low of $4.61 and a 12 month high of $11.17. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.05.

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