Bridgefront Capital LLC Makes New $160,000 Investment in ProPetro Holding Corp. (NYSE:PUMP)

Bridgefront Capital LLC acquired a new stake in ProPetro Holding Corp. (NYSE:PUMP) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 17,139 shares of the company’s stock, valued at approximately $160,000.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in ProPetro by 205.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock valued at $28,000 after purchasing an additional 2,005 shares in the last quarter. GAMMA Investing LLC increased its position in ProPetro by 38.0% in the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock valued at $41,000 after buying an additional 1,225 shares in the last quarter. KBC Group NV boosted its holdings in ProPetro by 90.5% in the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after acquiring an additional 3,821 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in ProPetro in the fourth quarter valued at approximately $94,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of ProPetro by 101.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company’s stock valued at $98,000 after acquiring an additional 5,270 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays reduced their price target on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Stifel Nicolaus lowered their target price on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, Benchmark reiterated a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.50.

ProPetro Stock Performance

Shares of PUMP stock opened at $5.44 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.31 and a quick ratio of 1.14. The firm has a 50-day moving average of $6.10 and a 200-day moving average of $7.89. ProPetro Holding Corp. has a one year low of $4.61 and a one year high of $11.17. The company has a market cap of $564.58 million, a P/E ratio of -4.06 and a beta of 1.19.

ProPetro (NYSE:PUMP) last posted its earnings results on Tuesday, April 29th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. The firm had revenue of $359.42 million for the quarter, compared to analysts’ expectations of $344.36 million. ProPetro had a negative net margin of 9.55% and a positive return on equity of 3.20%. The company’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. Equities research analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

About ProPetro

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.