ProPetro (NYSE:PUMP) COO Sells $789,674.32 in Stock

ProPetro Holding Corp. (NYSE:PUMP) COO Adam Munoz sold 70,696 shares of ProPetro stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total transaction of $789,674.32. Following the transaction, the chief operating officer directly owned 148,691 shares in the company, valued at $1,660,878.47. This trade represents a 32.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

ProPetro Stock Performance

NYSE:PUMP opened at $10.97 on Friday. The company’s 50-day moving average is $13.41 and its two-hundred day moving average is $13.69. ProPetro Holding Corp. has a 1-year low of $4.51 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 firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -99.77 and a beta of 0.77.

ProPetro (NYSE:PUMP) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The firm had revenue of $305.81 million for the quarter, compared to analyst estimates of $304.48 million. ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.07) EPS. Analysts forecast that ProPetro Holding Corp. will post -0.06 EPS for the current year.

Hedge Funds Weigh In On ProPetro

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in ProPetro during the second quarter worth about $130,574,000. Sourcerock Group LLC grew its holdings in shares of ProPetro by 66.4% in the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock valued at $50,198,000 after purchasing an additional 3,355,848 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ProPetro by 14.7% in the first quarter. Dimensional Fund Advisors LP now owns 6,481,970 shares of the company’s stock valued at $93,408,000 after purchasing an additional 831,823 shares in the last quarter. Philosophy Capital Management LLC increased its stake in ProPetro by 14.8% during the 3rd quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock worth $21,208,000 after buying an additional 520,327 shares during the period. Finally, VR Advisory Services Ltd boosted its position in ProPetro by 213.2% in the 3rd quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after buying an additional 2,504,634 shares during the period. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PUMP has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $16.00 target price on shares of ProPetro in a research report on Wednesday, June 3rd. Barclays reduced their price objective on shares of ProPetro from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday. Piper Sandler decreased their target price on shares of ProPetro from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Odeon Capital Group initiated coverage on shares of ProPetro in a research note on Thursday, May 28th. They set a “buy” rating for the company. Finally, Citigroup dropped their price target on shares of ProPetro from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Eight research 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.