Sterling Capital Management LLC Sells 42,972 Shares of ProPetro Holding Corp. $PUMP

Sterling Capital Management LLC reduced its stake in ProPetro Holding Corp. (NYSE:PUMP) by 93.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,251 shares of the company’s stock after selling 42,972 shares during the period. Sterling Capital Management LLC’s holdings in ProPetro were worth $47,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Aster Capital Management DIFC Ltd bought a new position in ProPetro in the 4th quarter worth about $56,000. Dark Forest Capital Management LP bought a new position in shares of ProPetro in the third quarter worth approximately $57,000. Raymond James Financial Inc. purchased a new stake in shares of ProPetro during the second quarter valued at approximately $60,000. Tower Research Capital LLC TRC grew its holdings in shares of ProPetro by 70.5% during the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after buying an additional 4,461 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in shares of ProPetro during the second quarter valued at approximately $102,000. 84.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PUMP. Weiss Ratings cut ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Piper Sandler upped their price target on ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, May 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $16.00 price objective on shares of ProPetro in a research report on Wednesday, June 3rd. Barclays upgraded ProPetro from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $14.00 to $23.00 in a report on Thursday, May 7th. Finally, Citigroup upped their target price on shares of ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.25.

ProPetro Trading Up 0.4%

NYSE:PUMP opened at $12.85 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $18.50. The company has a market cap of $1.58 billion, a PE ratio of -116.85 and a beta of 0.72. The company has a 50 day simple moving average of $15.26 and a two-hundred day simple moving average of $13.36.

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