North Star Investment Management Corp. Trims Stock Position in ProPetro Holding Corp. $PUMP

North Star Investment Management Corp. cut its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 97.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,425 shares of the company’s stock after selling 209,000 shares during the quarter. North Star Investment Management Corp.’s holdings in ProPetro were worth $28,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PUMP. Sourcerock Group LLC lifted its stake in ProPetro by 66.4% in the 2nd quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock valued at $50,198,000 after buying an additional 3,355,848 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of ProPetro by 140.8% in the second quarter. JPMorgan Chase & Co. now owns 810,279 shares of the company’s stock valued at $4,837,000 after acquiring an additional 473,812 shares in the last quarter. HRT Financial LP purchased a new stake in shares of ProPetro in the second quarter valued at $2,042,000. Prudential Financial Inc. boosted its stake in shares of ProPetro by 256.5% during the second quarter. Prudential Financial Inc. now owns 377,904 shares of the company’s stock valued at $2,256,000 after acquiring an additional 271,906 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in ProPetro during the 2nd quarter worth about $1,566,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ProPetro

In other ProPetro news, Director Michele Vion sold 6,916 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $10.64, for a total transaction 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. The trade was a 13.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G Larry Lawrence sold 27,000 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $10.84, for a total transaction of $292,680.00. Following the completion of the sale, the director directly owned 35,831 shares of the company’s stock, valued at $388,408.04. The trade was a 42.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PUMP has been the subject of several analyst reports. Barclays restated a “neutral” rating on shares of ProPetro in a report on Wednesday, December 17th. Wolfe Research raised shares of ProPetro to a “buy” rating and set a $13.00 price objective for the company in a research report on Wednesday, December 10th. Citigroup lifted their target price on shares of ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Piper Sandler upgraded ProPetro from a “neutral” rating to an “overweight” rating and set a $16.00 price objective on the stock in a report on Monday, November 3rd. Finally, Zacks Research raised ProPetro from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 23rd. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.50.

ProPetro Trading Down 1.5%

Shares of PUMP opened at $9.30 on Thursday. ProPetro Holding Corp. has a twelve month low of $4.51 and a twelve month high of $11.66. The firm has a market capitalization of $967.12 million, a P/E ratio of -54.71 and a beta of 0.75. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $9.95 and its 200 day simple moving average is $7.06.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, October 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The firm 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 quarterly revenue was down 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.32) earnings per share. On average, equities research analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

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.