Squarepoint Ops LLC lifted its holdings in ProPetro Holding Corp. (NYSE:PUMP – Free Report) by 80.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 622,179 shares of the company’s stock after buying an additional 278,172 shares during the period. Squarepoint Ops LLC’s holdings in ProPetro were worth $8,922,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of PUMP. Aster Capital Management DIFC Ltd acquired a new position in ProPetro during the fourth quarter valued at $56,000. Dark Forest Capital Management LP acquired a new stake in ProPetro during the 3rd quarter worth about $57,000. Raymond James Financial Inc. purchased a new position in ProPetro during the 2nd quarter valued at about $60,000. Tower Research Capital LLC TRC grew its stake in ProPetro by 70.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after acquiring an additional 4,461 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of ProPetro in the 2nd quarter valued at about $74,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.
Analyst Upgrades and Downgrades
PUMP has been the subject of a number of research analyst reports. 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. Stifel Nicolaus lowered their price objective on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Wall Street Zen lowered shares of ProPetro from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProPetro in a research report on Friday, July 31st. Finally, Citigroup decreased their target price on shares of ProPetro from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Eight 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.12.
Insider Activity at ProPetro
In other ProPetro news, Director G Lawrence sold 35,831 shares of ProPetro stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total value 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. The trade was 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 through the SEC website. Also, COO Adam Muñoz sold 70,696 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total transaction of $789,674.32. Following the completion of the sale, the chief operating officer directly owned 148,691 shares of the company’s stock, valued at $1,660,878.47. This represents a 32.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is currently owned by company insiders.
ProPetro Stock Performance
Shares of PUMP stock opened at $11.49 on Friday. ProPetro Holding Corp. has a fifty-two week low of $4.64 and a fifty-two week high of $18.50. The stock’s 50-day moving average is $11.81 and its two-hundred day moving average is $13.75. 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 cap of $1.41 billion, a P/E ratio of -104.50 and a beta of 0.77.
ProPetro (NYSE:PUMP – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 1.15% and a negative return on equity of 1.49%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. Analysts predict that ProPetro Holding Corp. will post -0.1 earnings per share for the current fiscal year.
ProPetro Company 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.
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