Sterling Capital Management LLC Reduces Stock Position in ProPetro Holding Corp. $PUMP

Sterling Capital Management LLC lessened its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 93.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,251 shares of the company’s stock after selling 42,972 shares during the period. Sterling Capital Management LLC’s holdings in ProPetro were worth $47,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sourcerock Group LLC raised its position in ProPetro by 66.4% during the 2nd 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. Philosophy Capital Management LLC grew its position in shares of ProPetro by 14.8% in 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 last quarter. VR Advisory Services Ltd increased its stake 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 valued at $19,280,000 after buying an additional 2,504,634 shares during the period. Valiant Capital Management L.P. purchased a new position in shares of ProPetro during the fourth quarter valued at approximately $34,890,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of ProPetro by 209.5% during 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. Hedge funds and other institutional investors own 84.70% of the company’s stock.

ProPetro Stock Up 0.4%

NYSE:PUMP opened at $12.85 on Friday. The firm’s 50-day moving average price is $15.26 and its 200-day moving average price is $13.36. The company has a market capitalization of $1.58 billion, a PE ratio of -116.85 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.64 and a quick ratio of 1.57. ProPetro Holding Corp. has a 1-year low of $4.51 and a 1-year high of $18.50.

ProPetro (NYSE:PUMP) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $277.49 million. During the same period last year, the company posted $0.09 EPS. ProPetro’s revenue was down 24.6% on a year-over-year basis. On average, equities analysts predict that ProPetro Holding Corp. will post -0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PUMP. Bank of America started coverage on shares of ProPetro in a report on Monday, March 30th. They issued a “buy” rating and a $18.00 price target on the stock. Odeon Capital Group started coverage on shares of ProPetro in a research report on Thursday, May 28th. They set a “buy” rating 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. Stifel Nicolaus set a $23.00 price objective on shares of ProPetro in a report on Thursday, July 2nd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $16.00 price objective on shares of ProPetro in a research report on Wednesday, June 3rd. Eight equities research 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.com, ProPetro has an average rating of “Moderate Buy” and a consensus price target of $18.25.

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.