JPMorgan Chase & Co. Raises Stock Holdings in ProPetro Holding Corp. $PUMP

JPMorgan Chase & Co. raised its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 103.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,648,055 shares of the company’s stock after buying an additional 837,776 shares during the period. JPMorgan Chase & Co. owned about 1.58% of ProPetro worth $8,636,000 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 company. Trek Financial LLC purchased a new position in shares of ProPetro in the third quarter valued at about $57,000. Dark Forest Capital Management LP purchased a new stake in shares of ProPetro during the third quarter worth about $57,000. MQS Management LLC bought a new stake in shares of ProPetro in the third quarter worth about $58,000. PharVision Advisers LLC purchased a new position in ProPetro during the 2nd quarter valued at about $60,000. Finally, Raymond James Financial Inc. purchased a new position in ProPetro during the 2nd quarter valued at about $60,000. Institutional investors own 84.70% of the company’s stock.

ProPetro Stock Performance

Shares of ProPetro stock opened at $14.33 on Friday. The business has a fifty day simple moving average of $11.32 and a two-hundred day simple moving average of $8.98. The firm has a market capitalization of $1.75 billion, a P/E ratio of 1,432.50 and a beta of 0.70. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.13. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $14.56.

ProPetro (NYSE:PUMP) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.14. ProPetro had a net margin of 0.06% and a return on equity of 0.10%. The company had revenue of $289.68 million during the quarter, compared to analyst estimates of $279.90 million. During the same period last year, the business earned ($0.17) EPS. ProPetro’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, equities analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on PUMP. Wolfe Research upgraded ProPetro to a “buy” rating and set a $13.00 price objective for the company in a report on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Barclays raised their price target on ProPetro from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 25th. Piper Sandler lifted their price target on shares of ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. raised shares of ProPetro from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $7.00 to $13.00 in a research report on Wednesday, December 10th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ProPetro currently has a consensus rating of “Hold” and a consensus price target of $12.83.

ProPetro Profile

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients’ development targets across unconventional plays.

The company’s core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.