Capelight Capital Asset Management LP Takes $3.24 Million Position in ProPetro Holding Corp. $PUMP

Capelight Capital Asset Management LP acquired a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) during the first quarter, according to the company in its most recent Form 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 makes up about 2.3% of Capelight Capital Asset Management LP’s investment portfolio, making the stock its 17th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of ProPetro by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock worth $379,000 after acquiring an additional 2,230 shares in the last quarter. Millennium Management LLC grew its holdings in shares of ProPetro by 44.6% during the 1st quarter. Millennium Management LLC now owns 735,731 shares of the company’s stock valued at $5,408,000 after purchasing an additional 226,914 shares during the last quarter. Jones Financial Companies Lllp raised its position in ProPetro by 16,264.8% in the 1st quarter. Jones Financial Companies Lllp now owns 27,002 shares of the company’s stock worth $198,000 after purchasing an additional 26,837 shares during the period. Goldman Sachs Group Inc. lifted its stake in ProPetro by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 609,935 shares of the company’s stock worth $4,483,000 after purchasing an additional 21,519 shares during the last quarter. Finally, Caxton Associates LLP bought a new stake in ProPetro in the first quarter worth $272,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Stock Down 9.5%

Shares of ProPetro stock opened at $12.09 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. ProPetro Holding Corp. has a 12-month low of $4.51 and a 12-month high of $18.50. The company has a market cap of $1.48 billion, a P/E ratio of -109.86 and a beta of 0.72. The company’s fifty day simple moving average is $15.80 and its two-hundred day simple moving average is $13.26.

ProPetro (NYSE:PUMP) last posted its earnings results on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.09. The firm had revenue of $270.69 million during the quarter, compared to analysts’ expectations of $277.49 million. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. The company’s quarterly revenue was down 24.6% compared to the same quarter last year. During the same period last year, the company posted $0.09 EPS. Research analysts anticipate that ProPetro Holding Corp. will post -0.08 EPS for the current year.

Analysts Set New Price Targets

PUMP has been the topic of a number of recent research reports. Weiss Ratings cut ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Piper Sandler increased their target price on ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Stifel Nicolaus set a $23.00 price target on ProPetro in a research report on Thursday. Odeon Capital Group assumed coverage on ProPetro in a research report on Thursday, May 28th. They issued a “buy” rating for the company. Finally, Barclays raised ProPetro from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $14.00 to $23.00 in a research note on Thursday, May 7th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.25.

About ProPetro

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.