11,725 Shares in ProPetro Holding Corp. $PUMP Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,725 shares of the company’s stock, valued at approximately $74,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quarry LP bought a new position in shares of ProPetro during the first quarter worth about $25,000. Headlands Technologies LLC acquired a new stake in ProPetro during the first quarter valued at approximately $32,000. State of Wyoming acquired a new stake in ProPetro during the first quarter valued at approximately $48,000. Aigen Investment Management LP bought a new position in ProPetro during the 1st quarter worth approximately $80,000. Finally, Teacher Retirement System of Texas bought a new position in ProPetro during the 1st quarter worth approximately $89,000. Institutional investors own 84.70% of the company’s stock.

ProPetro Stock Down 8.2%

ProPetro stock opened at $5.04 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.35 and a current ratio of 1.42. ProPetro Holding Corp. has a one year low of $4.51 and a one year high of $11.17. The company has a 50-day simple moving average of $4.99 and a 200-day simple moving average of $5.54. The firm has a market capitalization of $524.01 million, a P/E ratio of -3.43 and a beta of 1.00.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PUMP. Piper Sandler lowered their price target on ProPetro from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. 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. Zacks Research lowered shares of ProPetro from a “hold” rating to a “strong sell” rating in a report on Monday, September 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of ProPetro in a research report on Wednesday, October 8th. Finally, Citigroup increased their price objective on shares of ProPetro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, ProPetro currently has an average rating of “Hold” and a consensus price target of $8.00.

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.