Adam Munoz Sells 70,696 Shares of ProPetro (NYSE:PUMP) Stock

ProPetro Holding Corp. (NYSE:PUMP) COO Adam Munoz sold 70,696 shares of the business’s stock in a transaction 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 transaction, the chief operating officer owned 148,691 shares in the company, valued at approximately $1,660,878.47. The trade was a 32.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

ProPetro Stock Performance

PUMP stock traded down $0.36 during trading hours 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 stock has a market capitalization of $1.36 billion, a PE ratio of -100.30 and a beta of 0.77. 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 has a 50-day simple moving average of $13.67 and a 200 day simple moving average of $13.70. ProPetro Holding Corp. has a fifty-two week low of $4.51 and a fifty-two week high of $18.50.

ProPetro (NYSE:PUMP) last released 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). 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 revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. Analysts predict that ProPetro Holding Corp. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On ProPetro

A number of hedge funds have recently added to or reduced their stakes in the stock. Valiant Capital Management L.P. bought a new stake in shares of ProPetro during the 4th quarter valued at $34,890,000. Sourcerock Group LLC raised its stake in 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. Cooper Creek Partners Management LLC bought a new stake in ProPetro during the first quarter worth about $42,748,000. VR Advisory Services Ltd grew its stake in ProPetro by 213.2% during the third 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in ProPetro by 209.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock worth $14,170,000 after buying an additional 1,830,399 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barclays lowered 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. Stifel Nicolaus decreased their target price on ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Monday. Citigroup dropped their price target on ProPetro from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler reduced their price objective on shares of ProPetro from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $16.00 price objective on shares of ProPetro in a report on Wednesday, June 3rd. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

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.