ProPetro (NYSE:PUMP) Director Sells $399,873.96 in Stock

ProPetro Holding Corp. (NYSE:PUMP) Director G Larry Lawrence sold 35,831 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.16, for a total value of $399,873.96. Following the transaction, the director owned 28,181 shares of the company’s stock, valued at $314,499.96. The trade was a 55.98% 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.

ProPetro Trading Down 3.1%

Shares of NYSE:PUMP traded down $0.36 during mid-day trading on Wednesday, reaching $11.03. The stock had a trading volume of 2,654,064 shares, compared to its average volume of 4,079,026. The firm has a market cap of $1.36 billion, a PE ratio of -100.30 and a beta of 0.77. The firm has a 50 day simple moving average of $13.67 and a two-hundred day simple moving average of $13.70. The company has a current ratio of 4.09, a quick ratio of 4.00 and a debt-to-equity ratio of 0.80. ProPetro Holding Corp. has a twelve month low of $4.51 and a twelve month high of $18.50.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $304.48 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts predict that ProPetro Holding Corp. will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research note on Friday. Piper Sandler decreased their target price on ProPetro from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Odeon Capital Group initiated coverage on ProPetro in a report on Thursday, May 28th. They issued a “buy” rating for the company. Barclays dropped their price target on ProPetro from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Citigroup decreased their price objective on ProPetro from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Monday. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Institutional Investors Weigh In On ProPetro

Several institutional investors have recently added to or reduced their stakes in PUMP. Aster Capital Management DIFC Ltd bought a new position in ProPetro during the 4th quarter worth about $56,000. Dark Forest Capital Management LP acquired a new stake in shares of ProPetro in the 3rd quarter valued at about $57,000. Raymond James Financial Inc. bought a new stake in shares of ProPetro in the second quarter valued at about $60,000. Tower Research Capital LLC TRC lifted its holdings in shares of ProPetro by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after purchasing an additional 4,461 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of ProPetro during the first quarter worth about $83,000. 84.70% of the stock is owned by institutional investors.

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.