Alta Fundamental Advisers LLC Sells 500,000 Shares of ProPetro Holding Corp. $PUMP

Alta Fundamental Advisers LLC lowered its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 21.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,798,185 shares of the company’s stock after selling 500,000 shares during the period. ProPetro comprises 7.8% of Alta Fundamental Advisers LLC’s holdings, making the stock its 2nd biggest holding. Alta Fundamental Advisers LLC’s holdings in ProPetro were worth $17,101,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Dark Forest Capital Management LP acquired a new position in shares of ProPetro in the 3rd quarter worth approximately $57,000. MQS Management LLC acquired a new position in shares of ProPetro in the 3rd quarter worth approximately $58,000. Raymond James Financial Inc. acquired a new position in shares of ProPetro in the 2nd quarter worth approximately $60,000. Tower Research Capital LLC TRC grew its stake in shares of ProPetro by 70.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock worth $64,000 after purchasing an additional 4,461 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of ProPetro in the 3rd quarter worth approximately $66,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $16.00 price objective on shares of ProPetro in a research note on Wednesday. Piper Sandler boosted their price objective on ProPetro from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Weiss Ratings downgraded ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Odeon Capital Group initiated coverage on ProPetro in a report on Thursday, May 28th. They issued a “buy” rating on the stock. Finally, Bank of America initiated coverage on ProPetro in a report on Monday, March 30th. They set a “buy” rating and a $18.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ProPetro has a consensus rating of “Moderate Buy” and an average target price of $16.63.

ProPetro Stock Up 1.0%

Shares of PUMP stock opened at $16.51 on Friday. The stock’s 50 day simple moving average is $15.63 and its 200 day simple moving average is $12.62. 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 Holding Corp. has a twelve month low of $4.51 and a twelve month high of $18.50. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -150.06 and a beta of 0.70.

ProPetro (NYSE:PUMP) last released its 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 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 previous year, the business earned $0.09 EPS. The business’s revenue was down 24.6% on a year-over-year basis. As a group, research analysts predict that ProPetro Holding Corp. will post -0.08 EPS 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.