Situational Awareness LP Raises Stock Holdings in ProPetro Holding Corp. $PUMP

Situational Awareness LP increased its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 115.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,960,382 shares of the company’s stock after acquiring an additional 1,050,082 shares during the quarter. ProPetro makes up about 0.1% of Situational Awareness LP’s holdings, making the stock its 20th largest position. Situational Awareness LP’s holdings in ProPetro were worth $28,112,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. bought a new position in ProPetro in the 2nd quarter valued at $130,574,000. Valiant Capital Management L.P. purchased a new stake in shares of ProPetro during the 4th quarter valued at $34,890,000. Sourcerock Group LLC raised its stake in shares of ProPetro by 66.4% during the 2nd 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 period. Cooper Creek Partners Management LLC bought a new stake in shares of ProPetro during the 1st quarter worth $42,748,000. Finally, VR Advisory Services Ltd boosted its holdings in shares of ProPetro by 213.2% in the 3rd quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock worth $19,280,000 after buying an additional 2,504,634 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insider Activity

In other news, COO Adam Muñoz sold 70,696 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $11.17, for a total value of $789,674.32. Following the sale, the chief operating officer owned 148,691 shares of the company’s stock, valued at $1,660,878.47. The trade was a 32.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director G Lawrence sold 35,831 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total transaction of $399,873.96. Following the completion of the sale, the director directly owned 28,181 shares in the company, valued at approximately $314,499.96. This trade represents a 55.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PUMP. Piper Sandler reduced their price target on shares of ProPetro from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, August 27th. Odeon Capital Group began coverage on shares of ProPetro in a research report on Thursday, May 28th. They issued a “buy” rating on the stock. Citigroup dropped their target price on shares of ProPetro from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a research report on Friday, July 31st. Finally, Wall Street Zen lowered shares of ProPetro from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Eight equities 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.12.

ProPetro Stock Performance

Shares of PUMP opened at $11.22 on Friday. ProPetro Holding Corp. has a 1 year low of $4.52 and a 1 year high of $18.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.09 and a quick ratio of 4.00. The stock’s fifty day moving average price is $12.02 and its two-hundred day moving average price is $13.75. The firm has a market cap of $1.38 billion, a PE ratio of -102.00 and a beta of 0.77.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.06). ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.The firm had revenue of $305.81 million during the quarter, compared to analysts’ expectations of $304.48 million. During the same period last year, the business posted ($0.07) EPS. The company’s revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts forecast that ProPetro Holding Corp. will post -0.09 EPS for the current year.

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.