Jefferies Financial Group Inc. Makes New Investment in ProPetro Holding Corp. $PUMP

Jefferies Financial Group Inc. purchased a new position in ProPetro Holding Corp. (NYSE:PUMP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 324,400 shares of the company’s stock, valued at approximately $3,085,000. Jefferies Financial Group Inc. owned about 0.31% of ProPetro as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Sourcerock Group LLC lifted its stake in ProPetro by 66.4% in the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock worth $50,198,000 after purchasing an additional 3,355,848 shares during the last quarter. Philosophy Capital Management LLC lifted its stake in ProPetro by 14.8% in the third quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock worth $21,208,000 after purchasing an additional 520,327 shares during the last quarter. American Century Companies Inc. lifted its stake in ProPetro by 5.4% in the third quarter. American Century Companies Inc. now owns 3,748,788 shares of the company’s stock worth $19,644,000 after purchasing an additional 192,638 shares during the last quarter. VR Advisory Services Ltd lifted its stake in ProPetro by 213.2% in the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock worth $19,280,000 after purchasing an additional 2,504,634 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in ProPetro by 209.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock worth $14,170,000 after purchasing an additional 1,830,399 shares during the last quarter. 84.70% of the stock is owned by institutional investors.

ProPetro Price Performance

PUMP stock opened at $16.87 on Wednesday. The firm’s 50-day moving average price is $15.46 and its two-hundred day moving average price is $12.36. ProPetro Holding Corp. has a 12-month low of $4.51 and a 12-month high of $18.50. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -153.36 and a beta of 0.75. 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 (NYSE:PUMP) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.09. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. The firm had revenue of $270.69 million for the quarter, compared to analysts’ expectations of $277.49 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was down 24.6% compared to the same quarter last year. As a group, equities analysts predict that ProPetro Holding Corp. will post -0.08 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on PUMP. Piper Sandler boosted their price target on shares of ProPetro from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Bank of America began coverage on shares of ProPetro in a research note on Monday, March 30th. They issued a “buy” rating and a $18.00 price target for the company. Barclays upgraded shares of ProPetro from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $14.00 to $23.00 in a research report on Thursday, May 7th. Citigroup boosted their price objective on shares of ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings cut shares of ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.50.

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.