Fisher Asset Management LLC Sells 118,965 Shares of ProPetro Holding Corp. $PUMP

Fisher Asset Management LLC reduced its position in ProPetro Holding Corp. (NYSE:PUMP) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,495,676 shares of the company’s stock after selling 118,965 shares during the quarter. Fisher Asset Management LLC owned 1.44% of ProPetro worth $14,224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sourcerock Group LLC raised its holdings in shares of 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 acquiring an additional 3,355,848 shares in the last quarter. Philosophy Capital Management LLC raised its holdings in shares of ProPetro by 14.8% in the third quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock valued at $21,208,000 after acquiring an additional 520,327 shares in the last quarter. American Century Companies Inc. raised its holdings 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 acquiring an additional 192,638 shares in the last quarter. VR Advisory Services Ltd raised its holdings in shares of ProPetro by 213.2% in the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after acquiring an additional 2,504,634 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of ProPetro by 209.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock valued at $14,170,000 after acquiring an additional 1,830,399 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PUMP has been the subject of several recent research reports. Bank of America initiated coverage on ProPetro in a report on Monday, March 30th. They issued a “buy” rating and a $18.00 price objective for the company. Barclays upgraded ProPetro from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $14.00 to $23.00 in a report on Thursday, May 7th. Citigroup boosted their target price on shares of ProPetro from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Weiss Ratings downgraded shares of ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group began coverage on shares of ProPetro in a report on Friday, April 10th. They issued a “neutral” rating and a $15.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.50.

ProPetro Price Performance

Shares of PUMP stock opened at $15.78 on Thursday. ProPetro Holding Corp. has a fifty-two week low of $4.51 and a fifty-two week high of $18.50. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -143.44 and a beta of 0.75. 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 stock’s 50-day simple moving average is $15.50 and its 200-day simple moving average is $12.39.

ProPetro (NYSE:PUMP) last issued its quarterly 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. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The business had revenue of $270.69 million for the quarter, compared to analyst estimates of $277.49 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The company’s revenue was down 24.6% on a year-over-year basis. As a group, equities analysts forecast that ProPetro Holding Corp. will post -0.08 earnings per share for the current fiscal year.

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.