Healthcare of Ontario Pension Plan Trust Fund Buys 1,403,600 Shares of ProPetro Holding Corp. $PUMP

Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 561.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,653,600 shares of the company’s stock after buying an additional 1,403,600 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ProPetro were worth $23,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of ProPetro in the 4th quarter valued at about $56,000. Dark Forest Capital Management LP acquired a new position in ProPetro during the 3rd quarter worth approximately $57,000. Raymond James Financial Inc. acquired a new position in ProPetro during the 2nd quarter worth approximately $60,000. Tower Research Capital LLC TRC boosted its holdings in ProPetro by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock worth $64,000 after acquiring an additional 4,461 shares in the last quarter. Finally, State of Wyoming bought a new position in ProPetro in the first quarter worth approximately $83,000. Institutional investors own 84.70% of the company’s stock.

ProPetro Price Performance

PUMP stock opened at $11.78 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 1.64. The business has a 50-day simple moving average of $14.57 and a two-hundred day simple moving average of $13.64. The company has a market capitalization of $1.44 billion, a P/E ratio of -107.05 and a beta of 0.72. ProPetro Holding Corp. has a 52-week low of $4.51 and a 52-week high of $18.50.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.09. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The firm had revenue of $270.69 million during the quarter, compared to the consensus estimate of $277.49 million. During the same period in the prior year, the business posted $0.09 earnings per share. The company’s quarterly revenue was down 24.6% compared to the same quarter last year. Research analysts expect that ProPetro Holding Corp. will post -0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Bank of America initiated coverage on ProPetro in a research note on Monday, March 30th. They issued a “buy” rating and a $18.00 price objective for the company. Stifel Nicolaus set a $23.00 target price on ProPetro in a report on Thursday, July 2nd. Piper Sandler lifted their price target on shares of ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. The Goldman Sachs Group reissued a “neutral” rating and issued a $16.00 price target on shares of ProPetro in a research report on Wednesday, June 3rd. Finally, Barclays upgraded shares of ProPetro from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $14.00 to $23.00 in a research note on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.25.

ProPetro 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.