Voya Investment Management LLC Has $387,000 Stake in ProPetro Holding Corp. $PUMP

Voya Investment Management LLC reduced its stake in ProPetro Holding Corp. (NYSE:PUMP) by 52.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,820 shares of the company’s stock after selling 79,939 shares during the period. Voya Investment Management LLC owned about 0.07% of ProPetro worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sourcerock Group LLC grew its stake in shares of ProPetro by 66.4% during the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock worth $50,198,000 after buying an additional 3,355,848 shares during the last quarter. Philosophy Capital Management LLC increased its holdings in ProPetro by 23.2% in the 1st quarter. Philosophy Capital Management LLC now owns 2,820,887 shares of the company’s stock worth $20,734,000 after purchasing an additional 531,751 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in ProPetro by 140.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 810,279 shares of the company’s stock worth $4,837,000 after purchasing an additional 473,812 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of ProPetro during the first quarter valued at about $3,348,000. Finally, HRT Financial LP bought a new stake in shares of ProPetro during the second quarter worth about $2,042,000. 84.70% of the stock is owned by institutional investors.

Insider Buying and Selling at ProPetro

In other news, Director Michele Vion sold 6,916 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $10.64, for a total value of $73,586.24. Following the completion of the sale, the director directly owned 45,029 shares in the company, valued at $479,108.56. This trade represents a 13.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director G Larry Lawrence sold 27,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $10.84, for a total value of $292,680.00. Following the transaction, the director directly owned 35,831 shares in the company, valued at approximately $388,408.04. This trade represents a 42.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is owned by corporate insiders.

ProPetro Stock Up 3.0%

Shares of NYSE:PUMP opened at $9.80 on Friday. ProPetro Holding Corp. has a 1 year low of $4.51 and a 1 year high of $11.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.26 and a quick ratio of 1.19. The business’s 50-day moving average is $9.89 and its 200-day moving average is $7.00. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -57.61 and a beta of 0.75.

ProPetro (NYSE:PUMP) last issued its earnings results on Wednesday, October 29th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. The business had revenue of $293.92 million during the quarter, compared to the consensus estimate of $266.25 million. ProPetro had a negative return on equity of 0.06% and a negative net margin of 1.31%.The firm’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same period in the previous year, the company posted ($1.32) earnings per share. Equities research analysts predict that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wolfe Research upgraded shares of ProPetro to a “buy” rating and set a $13.00 target price on the stock in a research report on Wednesday, December 10th. Piper Sandler upgraded shares of ProPetro from a “neutral” rating to an “overweight” rating and set a $16.00 price target on the stock in a report on Monday, November 3rd. JPMorgan Chase & Co. raised shares of ProPetro from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $7.00 to $13.00 in a research note on Wednesday, December 10th. Barclays reaffirmed a “neutral” rating on shares of ProPetro in a research report on Wednesday, December 17th. Finally, Citigroup upped their price target on ProPetro from $6.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.50.

ProPetro 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.