Aventail Capital Group LP Purchases New Position in ProPetro Holding Corp. $PUMP

Aventail Capital Group LP acquired a new position in ProPetro Holding Corp. (NYSE:PUMP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 303,934 shares of the company’s stock, valued at approximately $2,890,000. Aventail Capital Group LP owned approximately 0.29% of ProPetro as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in ProPetro in the fourth quarter worth approximately $56,000. Raymond James Financial Inc. bought a new position in ProPetro in the second quarter worth approximately $60,000. Tower Research Capital LLC TRC grew its stake in ProPetro by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock worth $64,000 after purchasing an additional 4,461 shares in the last quarter. Dark Forest Capital Management LP bought a new position in ProPetro in the third quarter worth approximately $57,000. Finally, New York State Common Retirement Fund grew its stake in ProPetro by 42.2% in the fourth quarter. New York State Common Retirement Fund now owns 14,496 shares of the company’s stock worth $138,000 after purchasing an additional 4,300 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PUMP. Barclays raised ProPetro from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $14.00 to $23.00 in a research note on Thursday, May 7th. The Goldman Sachs Group reissued a “neutral” rating and issued a $16.00 price objective on shares of ProPetro in a research note on Wednesday, June 3rd. Citigroup increased their price objective on ProPetro from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Odeon Capital Group started coverage on ProPetro in a report on Thursday, May 28th. They set a “buy” rating for the company. Finally, Weiss Ratings lowered ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.63.

ProPetro Stock Up 0.2%

ProPetro stock opened at $14.88 on Thursday. The business has a fifty day moving average of $15.76 and a two-hundred day moving average of $12.97. The company has a quick ratio of 1.57, a current ratio of 1.64 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.82 billion, a P/E ratio of -135.24 and a beta of 0.70. ProPetro Holding Corp. has a twelve month low of $4.51 and a twelve month high of $18.50.

ProPetro (NYSE:PUMP) last posted its earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. The company had revenue of $270.69 million during the quarter, compared to analyst estimates of $277.49 million. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.ProPetro’s revenue was down 24.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, analysts forecast that ProPetro Holding Corp. will post -0.08 earnings per share for the current fiscal year.

ProPetro Company 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.