Capelight Capital Asset Management LP Makes New $3.24 Million Investment in ProPetro Holding Corp. $PUMP

Capelight Capital Asset Management LP acquired a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 225,000 shares of the company’s stock, valued at approximately $3,242,000. ProPetro comprises 2.3% of Capelight Capital Asset Management LP’s holdings, making the stock its 17th largest position. Capelight Capital Asset Management LP owned about 0.18% of ProPetro at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new stake in shares of ProPetro during the 1st quarter worth approximately $2,045,000. Pictet Asset Management Holding SA lifted its stake in ProPetro by 41.9% in the first quarter. Pictet Asset Management Holding SA now owns 17,237 shares of the company’s stock valued at $248,000 after acquiring an additional 5,092 shares during the last quarter. OP Asset Management Ltd acquired a new position in shares of ProPetro during the 1st quarter worth about $1,796,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of ProPetro during the 4th quarter worth about $111,000. Finally, Alpine Global Management LLC bought a new stake in shares of ProPetro in the 4th quarter valued at about $118,000. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Stock Performance

Shares of ProPetro stock opened at $12.09 on Friday. The company has a market cap of $1.48 billion, a P/E ratio of -109.86 and a beta of 0.72. ProPetro Holding Corp. has a 1-year low of $4.51 and a 1-year high of $18.50. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $15.80 and a two-hundred day moving average price of $13.26.

ProPetro (NYSE:PUMP) last released its earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating 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 company had revenue of $270.69 million for the quarter, compared to the consensus estimate of $277.49 million. During the same quarter in the previous year, the company earned $0.09 EPS. ProPetro’s quarterly revenue was down 24.6% compared to the same quarter last year. As a group, analysts anticipate that ProPetro Holding Corp. will post -0.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $16.00 price target on shares of ProPetro in a report on Wednesday, June 3rd. Bank of America began coverage on shares of ProPetro in a research note on Monday, March 30th. They set a “buy” rating and a $18.00 target price for the company. Odeon Capital Group started coverage on shares of ProPetro in a report on Thursday, May 28th. They set a “buy” rating for the company. Weiss Ratings lowered shares of ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Finally, Piper Sandler upped their price objective on ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ProPetro has a consensus rating of “Moderate Buy” and an average target price of $18.25.

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.