Wealth Enhancement Advisory Services LLC Acquires New Holdings in ProPetro Holding Corp. $PUMP

Wealth Enhancement Advisory Services LLC bought a new stake in ProPetro Holding Corp. (NYSE:PUMP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,725 shares of the company’s stock, valued at approximately $74,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quarry LP bought a new position in shares of ProPetro in the first quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new stake in ProPetro in the first quarter worth approximately $32,000. State of Wyoming bought a new position in ProPetro during the 1st quarter valued at $48,000. Aigen Investment Management LP acquired a new position in shares of ProPetro during the 1st quarter valued at $80,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of ProPetro in the 1st quarter worth $89,000. 84.70% of the stock is currently owned by institutional investors.

ProPetro Trading Down 8.2%

ProPetro stock opened at $5.04 on Monday. ProPetro Holding Corp. has a 52 week low of $4.51 and a 52 week high of $11.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.35 and a current ratio of 1.42. The firm has a market capitalization of $524.01 million, a price-to-earnings ratio of -3.43 and a beta of 1.00. The company has a 50 day moving average price of $4.99 and a 200 day moving average price of $5.54.

ProPetro (NYSE:PUMP) last released its earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). The business had revenue of $326.15 million during the quarter, compared to analysts’ expectations of $331.26 million. ProPetro had a negative net margin of 11.10% and a positive return on equity of 1.84%. ProPetro’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.03) EPS. Research analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

PUMP has been the subject of several research reports. Citigroup raised their target price on ProPetro from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday. Weiss Ratings restated a “sell (d)” rating on shares of ProPetro in a research report on Wednesday, October 8th. Piper Sandler dropped their target price on shares of ProPetro from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Stifel Nicolaus set a $10.00 target price on shares of ProPetro and gave the company a “buy” rating in a research note on Wednesday, July 16th. Finally, Zacks Research lowered shares of ProPetro from a “hold” rating to a “strong sell” rating in a research report on Monday, September 1st. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.00.

ProPetro Profile

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.