ProPetro (NYSE:PUMP) Director G Larry Lawrence Sells 35,831 Shares

ProPetro Holding Corp. (NYSE:PUMP) Director G Larry Lawrence sold 35,831 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

ProPetro Price Performance

Shares of ProPetro stock opened at $11.03 on Thursday. The company has a quick ratio of 4.00, a current ratio of 4.09 and a debt-to-equity ratio of 0.80. ProPetro Holding Corp. has a twelve month low of $4.51 and a twelve month high of $18.50. The company has a 50-day simple moving average of $13.58 and a two-hundred day simple moving average of $13.71. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -100.30 and a beta of 0.77.

ProPetro (NYSE:PUMP) last issued 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). The company had revenue of $305.81 million during the quarter, compared to the consensus estimate of $304.48 million. ProPetro had a negative net margin of 1.15% and a negative return on equity of 1.49%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) earnings per share. Analysts forecast that ProPetro Holding Corp. will post -0.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PUMP. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $16.00 price objective on shares of ProPetro in a research report on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a research report on Friday, July 31st. Odeon Capital Group began coverage on ProPetro in a report on Thursday, May 28th. They set a “buy” rating for the company. Stifel Nicolaus dropped their price objective on ProPetro from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Monday. Finally, Piper Sandler lowered 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 equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Institutional Trading of ProPetro

A number of hedge funds have recently made changes to their positions in PUMP. Valiant Capital Management L.P. bought a new position in ProPetro in the 4th quarter valued at approximately $34,890,000. Sourcerock Group LLC increased its position 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 acquiring an additional 3,355,848 shares during the period. Cooper Creek Partners Management LLC bought a new position in shares of ProPetro during the first quarter valued at $42,748,000. VR Advisory Services Ltd raised its stake in shares of ProPetro by 213.2% during the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after acquiring an additional 2,504,634 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 purchasing an additional 1,830,399 shares during the period. 84.70% of the stock is owned by institutional investors and hedge funds.

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.