Wellington Management Group LLP Increases Stake in ProPetro Holding Corp. $PUMP

Wellington Management Group LLP increased its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 882.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,290,361 shares of the company’s stock after purchasing an additional 2,057,195 shares during the quarter. Wellington Management Group LLP owned 1.86% of ProPetro worth $32,844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PUMP. Aster Capital Management DIFC Ltd bought a new stake in shares of ProPetro in the 4th quarter valued at about $56,000. Dark Forest Capital Management LP purchased a new position in ProPetro in the 3rd quarter worth approximately $57,000. Raymond James Financial Inc. purchased a new position in ProPetro in the 2nd quarter worth approximately $60,000. Tower Research Capital LLC TRC lifted its position in 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 during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of ProPetro during the second quarter valued at approximately $74,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Trading Up 2.2%

NYSE:PUMP opened at $11.49 on Friday. The company has a 50-day moving average price of $11.95 and a 200-day moving average price of $13.73. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -104.45 and a beta of 0.77. 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 12 month low of $4.52 and a 12 month high of $18.50.

ProPetro (NYSE:PUMP) 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). ProPetro had a negative net margin of 1.15% and a negative return on equity of 1.49%. The company had revenue of $305.81 million for the quarter, compared to analysts’ expectations of $304.48 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. ProPetro’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts predict that ProPetro Holding Corp. will post -0.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PUMP. Barclays decreased their target price on shares of ProPetro from $23.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Wall Street Zen cut shares of ProPetro from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a report on Friday, July 31st. Piper Sandler lowered their price objective on shares of ProPetro from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, August 27th. Finally, Stifel Nicolaus lowered 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. Eight 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.12.

Insider Buying and Selling

In other news, Director G Lawrence sold 35,831 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $11.16, for a total value of $399,873.96. Following the completion of the transaction, the director owned 28,181 shares in the company, valued at $314,499.96. This trade represents a 55.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Adam Muñoz sold 70,696 shares of ProPetro stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $11.17, for a total value of $789,674.32. Following the sale, the chief operating officer owned 148,691 shares in the company, 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 corporate insiders.

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.