Hsbc Holdings PLC Trims Position in ProPetro Holding Corp. $PUMP

Hsbc Holdings PLC lessened its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 55.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,567 shares of the company’s stock after selling 72,569 shares during the quarter. Hsbc Holdings PLC’s holdings in ProPetro were worth $543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PUMP. ProShare Advisors LLC increased its position in ProPetro by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 14,643 shares of the company’s stock valued at $139,000 after purchasing an additional 944 shares during the period. FourThought Financial Partners LLC lifted its position in shares of ProPetro by 3.1% in the 4th quarter. FourThought Financial Partners LLC now owns 60,830 shares of the company’s stock worth $578,000 after purchasing an additional 1,840 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ProPetro by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock worth $379,000 after purchasing an additional 2,230 shares during the period. Jane Street Group LLC boosted its stake in shares of ProPetro by 1.4% during the 1st quarter. Jane Street Group LLC now owns 224,275 shares of the company’s stock valued at $1,648,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of ProPetro by 6.5% during the 2nd quarter. Lazard Asset Management LLC now owns 61,236 shares of the company’s stock valued at $364,000 after purchasing an additional 3,732 shares in the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

ProPetro Stock Down 5.4%

Shares of ProPetro stock opened at $12.71 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.64 and a quick ratio of 1.57. The company has a 50-day moving average of $15.02 and a 200 day moving average of $13.50. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -115.51 and a beta of 0.72. ProPetro Holding Corp. has a 1 year low of $4.51 and a 1 year high of $18.50.

ProPetro (NYSE:PUMP) last issued its quarterly earnings results 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. The company 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%. ProPetro’s revenue was down 24.6% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. As a group, sell-side analysts anticipate that ProPetro Holding Corp. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings downgraded shares of ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Bank of America initiated coverage on ProPetro in a research report on Monday, March 30th. They set a “buy” rating and a $18.00 price objective on the stock. Odeon Capital Group started coverage on ProPetro in a report on Thursday, May 28th. They set a “buy” rating on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $16.00 target price on shares of ProPetro in a research report on Wednesday, June 3rd. Finally, Barclays upgraded ProPetro from an “equal weight” rating to an “overweight” rating and raised their target price 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 assigned a Hold rating and one has issued 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.

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.