Graham Capital Management L.P. Takes Position in ProPetro Holding Corp. (NYSE:PUMP)

Graham Capital Management L.P. bought a new stake in ProPetro Holding Corp. (NYSE:PUMPGet Rating) in the first quarter, Holdings Channel.com reports. The institutional investor bought 102,801 shares of the company’s stock, valued at approximately $1,432,000.

Other hedge funds have also modified their holdings of the company. ProShare Advisors LLC increased its position in ProPetro by 63.9% during the fourth quarter. ProShare Advisors LLC now owns 21,510 shares of the company’s stock worth $175,000 after buying an additional 8,384 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of ProPetro by 22.3% in the fourth quarter. Teacher Retirement System of Texas now owns 14,918 shares of the company’s stock valued at $121,000 after purchasing an additional 2,718 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of ProPetro in the fourth quarter valued at about $813,000. JPMorgan Chase & Co. grew its position in shares of ProPetro by 17.5% in the fourth quarter. JPMorgan Chase & Co. now owns 894,942 shares of the company’s stock valued at $7,249,000 after purchasing an additional 133,507 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of ProPetro by 0.7% in the fourth quarter. Rhumbline Advisers now owns 257,375 shares of the company’s stock valued at $2,085,000 after buying an additional 1,845 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

ProPetro Price Performance

Shares of ProPetro stock opened at $9.10 on Monday. The firm has a market cap of $949.53 million, a P/E ratio of -19.78 and a beta of 2.45. The firm has a 50 day simple moving average of $9.13 and a 200 day simple moving average of $11.81. ProPetro Holding Corp. has a fifty-two week low of $7.08 and a fifty-two week high of $16.92.

ProPetro (NYSE:PUMPGet Rating) last released its earnings results on Tuesday, August 2nd. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.55). ProPetro had a positive return on equity of 2.05% and a negative net margin of 4.24%. During the same quarter last year, the business posted ($0.08) EPS. On average, sell-side analysts expect that ProPetro Holding Corp. will post 0.97 EPS for the current year.

Insiders Place Their Bets

In other ProPetro news, Director Spencer D. Armour III sold 32,931 shares of ProPetro stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $9.90, for a total transaction of $326,016.90. Following the completion of the sale, the director now owns 67,899 shares of the company’s stock, valued at approximately $672,200.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Evercore ISI reduced their target price on shares of ProPetro to $13.00 in a research note on Tuesday, August 9th. Citigroup lifted their target price on shares of ProPetro to $19.00 in a research note on Friday, June 3rd. Piper Sandler lifted their target price on shares of ProPetro from $15.50 to $16.75 and gave the company a “neutral” rating in a research note on Wednesday, June 1st. Finally, JPMorgan Chase & Co. cut shares of ProPetro from an “overweight” rating to an “underweight” rating and cut their target price for the company from $16.00 to $14.00 in a research note on Thursday, May 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.13.

ProPetro Company Profile

(Get Rating)

ProPetro Holding Corp., an oilfield services company, provides hydraulic fracturing and other related services. The company operates through Pressure Pumping and All Other segments. It offers cementing, acidizing, and coiled tubing services. The company serves oil and gas companies engaged in the exploration and production of North American oil and natural gas resources.

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Institutional Ownership by Quarter for ProPetro (NYSE:PUMP)

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