Dana Investment Advisors Inc. Boosts Stake in ProPetro Holding Corp. $PUMP

Dana Investment Advisors Inc. grew its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 21.9% in the 3rd quarter, Holdings Channel reports. The fund owned 932,470 shares of the company’s stock after acquiring an additional 167,509 shares during the period. Dana Investment Advisors Inc.’s holdings in ProPetro were worth $4,886,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PUMP. Sourcerock Group LLC boosted its holdings in ProPetro by 66.4% in the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock valued at $50,198,000 after purchasing an additional 3,355,848 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of ProPetro by 103.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock valued at $8,636,000 after purchasing an additional 837,776 shares in the last quarter. HRT Financial LP purchased a new position in shares of ProPetro during the 2nd quarter valued at approximately $2,042,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of ProPetro during the third quarter worth approximately $1,569,000. Finally, Prudential Financial Inc. increased its stake in shares of ProPetro by 256.5% in the second quarter. Prudential Financial Inc. now owns 377,904 shares of the company’s stock worth $2,256,000 after buying an additional 271,906 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barclays reiterated a “neutral” rating on shares of ProPetro in a research note on Wednesday, December 17th. Citigroup increased their price target on shares of ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. Wolfe Research upgraded ProPetro to a “buy” rating and set a $13.00 price objective on the stock in a research note on Wednesday, December 10th. Finally, JPMorgan Chase & Co. raised ProPetro from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $7.00 to $13.00 in a report on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.67.

ProPetro Trading Up 6.5%

NYSE PUMP opened at $11.61 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.24 and a current ratio of 1.29. ProPetro Holding Corp. has a one year low of $4.51 and a one year high of $13.25. The company has a 50-day simple moving average of $10.46 and a 200-day simple moving average of $8.29. The firm has a market capitalization of $1.42 billion, a PE ratio of 1,160.90 and a beta of 0.77.

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

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.