Situational Awareness LP Makes New $8.66 Million Investment in ProPetro Holding Corp. $PUMP

Situational Awareness LP purchased a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 910,300 shares of the company’s stock, valued at approximately $8,657,000. ProPetro accounts for about 0.2% of Situational Awareness LP’s investment portfolio, making the stock its 23rd largest position.

Several other hedge funds have also recently modified their holdings of the stock. Tudor Investment Corp ET AL purchased a new stake in shares of ProPetro in the third quarter valued at about $2,280,000. American Century Companies Inc. raised its position in shares of ProPetro by 5.4% in the third quarter. American Century Companies Inc. now owns 3,748,788 shares of the company’s stock valued at $19,644,000 after buying an additional 192,638 shares during the last quarter. Quantbot Technologies LP raised its position in shares of ProPetro by 50.5% in the third quarter. Quantbot Technologies LP now owns 262,804 shares of the company’s stock valued at $1,377,000 after buying an additional 88,152 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of ProPetro by 103.4% in the third quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock valued at $8,636,000 after buying an additional 837,776 shares during the last quarter. Finally, Dana Investment Advisors Inc. raised its position in shares of ProPetro by 21.9% in the third quarter. Dana Investment Advisors Inc. now owns 932,470 shares of the company’s stock valued at $4,886,000 after buying an additional 167,509 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Stock Performance

Shares of PUMP stock opened at $14.78 on Friday. ProPetro Holding Corp. has a one year low of $4.51 and a one year high of $18.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 1.64. The company has a 50 day moving average price of $15.64 and a 200 day moving average price of $12.64. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -134.32 and a beta of 0.70.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of ProPetro in a research report on Monday, March 30th. They issued a “buy” rating and a $18.00 price objective for the company. Weiss Ratings lowered shares of ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Barclays raised shares of ProPetro from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $14.00 to $23.00 in a research report on Thursday, May 7th. Piper Sandler boosted their price objective on shares of ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Finally, Citigroup boosted their price objective on shares of ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.63.

About ProPetro

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.