Jupiter Topco LLC Makes New Investment in ProPetro Holding Corp. $PUMP

Jupiter Topco LLC purchased a new stake in ProPetro Holding Corp. (NYSE:PUMP) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 46,354 shares of the company’s stock, valued at approximately $664,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of ProPetro during the 2nd quarter worth $130,574,000. Sourcerock Group LLC raised its position in shares of ProPetro by 66.4% during 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 period. Dimensional Fund Advisors LP raised its position in shares of ProPetro by 14.7% during the first quarter. Dimensional Fund Advisors LP now owns 6,481,970 shares of the company’s stock worth $93,408,000 after purchasing an additional 831,823 shares during the period. Philosophy Capital Management LLC lifted its holdings in shares of ProPetro by 14.8% during the third quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock valued at $21,208,000 after purchasing an additional 520,327 shares during the last quarter. Finally, VR Advisory Services Ltd lifted its holdings in shares of ProPetro by 213.2% during the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after purchasing an additional 2,504,634 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Stock Up 0.2%

Shares of ProPetro stock opened at $11.49 on Monday. The stock has a market capitalization of $1.41 billion, a P/E ratio of -104.45 and a beta of 0.77. The company has a quick ratio of 4.00, a current ratio of 4.09 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average price of $11.95 and a two-hundred day moving average price of $13.74. ProPetro Holding Corp. has a 12-month low of $4.52 and a 12-month high of $18.50.

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

Wall Street Analysts Forecast Growth

PUMP has been the topic of a number of analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $16.00 price target on shares of ProPetro in a research note on Wednesday, June 3rd. Wall Street Zen lowered shares of ProPetro from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Odeon Capital Group assumed coverage on shares of ProPetro in a research report on Thursday, May 28th. They issued a “buy” rating for the company. Stifel Nicolaus decreased their price objective on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Finally, Citigroup lowered their price objective on shares of ProPetro from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ProPetro presently has an average rating of “Moderate Buy” and a consensus target price of $16.12.

Insider Buying and Selling at ProPetro

In other ProPetro news, Director G Lawrence sold 35,831 shares of the company’s stock in a transaction dated 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 $314,499.96. This represents a 55.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Adam Muñoz sold 70,696 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $11.17, for a total transaction 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. This trade represents a 32.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is currently owned by corporate insiders.

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.