Readystate Asset Management LP Purchases Shares of 105,213 ProPetro Holding Corp. $PUMP

Readystate Asset Management LP acquired a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 105,213 shares of the company’s stock, valued at approximately $1,516,000. Readystate Asset Management LP owned about 0.09% of ProPetro as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sourcerock Group LLC increased its stake in shares of ProPetro by 66.4% during the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock worth $50,198,000 after purchasing an additional 3,355,848 shares during the period. Dimensional Fund Advisors LP increased its position in ProPetro by 14.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,481,970 shares of the company’s stock worth $93,408,000 after buying an additional 831,823 shares during the period. Philosophy Capital Management LLC increased its position in ProPetro by 14.8% during the 3rd quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock worth $21,208,000 after buying an additional 520,327 shares during the period. VR Advisory Services Ltd lifted its holdings in shares of ProPetro by 213.2% during the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock worth $19,280,000 after buying an additional 2,504,634 shares in the last quarter. Finally, Valiant Capital Management L.P. acquired a new stake in shares of ProPetro during the fourth quarter worth $34,890,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings downgraded shares of ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. 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 report on Monday, May 18th. Stifel Nicolaus set a $23.00 target price on shares of ProPetro in a research report on Thursday, July 2nd. Barclays raised shares of ProPetro from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $14.00 to $23.00 in a report on Thursday, May 7th. Finally, Odeon Capital Group assumed coverage on shares of ProPetro in a research report on Thursday, May 28th. They issued a “buy” rating for the company. Seven equities research 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. Based on data from MarketBeat.com, ProPetro currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.

ProPetro Stock Down 0.8%

Shares of NYSE PUMP opened at $10.70 on Wednesday. The stock has a market capitalization of $1.31 billion, a P/E ratio of -97.30 and a beta of 0.72. The stock’s fifty day moving average is $14.28 and its 200 day moving average is $13.66. ProPetro Holding Corp. has a 52 week low of $4.51 and a 52 week 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.

ProPetro (NYSE:PUMP) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.09. The business had revenue of $270.69 million during the quarter, compared to analysts’ expectations of $277.49 million. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. ProPetro’s revenue was down 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 earnings per share. Sell-side analysts forecast that ProPetro Holding Corp. will post -0.02 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.