Quantbot Technologies LP Buys Shares of 65,188 ProPetro Holding Corp. $PUMP

Quantbot Technologies LP bought a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) during the second quarter, HoldingsChannel.com reports. The firm bought 65,188 shares of the company’s stock, valued at approximately $935,000.

Other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC increased its stake in shares of ProPetro by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 14,643 shares of the company’s stock valued at $139,000 after acquiring an additional 944 shares during the last quarter. FourThought Financial Partners LLC grew its holdings in ProPetro by 3.1% during the fourth quarter. FourThought Financial Partners LLC now owns 60,830 shares of the company’s stock valued at $578,000 after purchasing an additional 1,840 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in ProPetro by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock valued at $379,000 after purchasing an additional 2,230 shares in the last quarter. Jane Street Group LLC increased its stake in ProPetro by 1.4% in the first quarter. Jane Street Group LLC now owns 224,275 shares of the company’s stock valued at $1,648,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in ProPetro by 6.3% in the first quarter. Lazard Asset Management LLC now owns 54,637 shares of the company’s stock worth $787,000 after purchasing an additional 3,219 shares during the period. 84.70% of the stock is currently owned by institutional investors and hedge funds.

ProPetro Stock Performance

Shares of PUMP opened at $10.59 on Thursday. The firm has a market cap of $1.30 billion, a P/E ratio of -96.27 and a beta of 0.77. ProPetro Holding Corp. has a twelve month low of $4.52 and a twelve month high of $18.50. The firm’s 50 day moving average price is $12.43 and its two-hundred day moving average price is $13.76. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.00 and a current ratio of 4.09.

ProPetro (NYSE:PUMP) last released its 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). ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.The firm had revenue of $305.81 million for the quarter, compared to the consensus estimate of $304.48 million. During the same quarter last year, the company posted ($0.07) EPS. ProPetro’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts forecast that ProPetro Holding Corp. will post -0.09 EPS for the current fiscal year.

Insider Activity

In other news, Director G Larry Lawrence sold 35,831 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.16, for a total transaction of $399,873.96. Following the completion of the transaction, the director directly owned 28,181 shares of the company’s stock, valued at $314,499.96. This represents a 55.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam Munoz sold 70,696 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total value of $789,674.32. Following the transaction, the chief operating officer owned 148,691 shares of the company’s stock, valued at approximately $1,660,878.47. The trade was a 32.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PUMP. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a research report on Friday, July 31st. Citigroup lowered their price objective 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. Odeon Capital Group started coverage on ProPetro in a research note on Thursday, May 28th. They set a “buy” rating on the stock. The Goldman Sachs Group reiterated a “neutral” rating and set a $16.00 target price on shares of ProPetro in a report on Wednesday, June 3rd. Finally, 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. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ProPetro currently 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.