733,512 Shares in ProPetro Holding Corp. $PUMP Bought by Moore Capital Management LP

Moore Capital Management LP purchased a new position in ProPetro Holding Corp. (NYSE:PUMP) during the second quarter, Holdings Channel reports. The fund purchased 733,512 shares of the company’s stock, valued at approximately $10,519,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd bought a new position in shares of ProPetro during the 4th quarter valued at approximately $56,000. Dark Forest Capital Management LP bought a new stake in shares of ProPetro in the 3rd quarter worth approximately $57,000. Raymond James Financial Inc. purchased a new position in ProPetro in the second quarter valued at approximately $60,000. Tower Research Capital LLC TRC lifted its stake 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 bought a new position in ProPetro during the second quarter valued at $74,000. Institutional investors own 84.70% of the company’s stock.

ProPetro Trading Down 0.6%

NYSE:PUMP opened at $10.91 on Monday. The company has a 50-day moving average price of $12.28 and a 200-day moving average price of $13.75. ProPetro Holding Corp. has a 12 month low of $4.52 and a 12 month high of $18.50. The company has a current ratio of 4.09, a quick ratio of 4.00 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -99.18 and a beta of 0.77.

ProPetro (NYSE:PUMP) last posted its earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share 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 analysts’ expectations of $304.48 million. During the same quarter last year, the company posted ($0.07) EPS. The firm’s revenue was down 6.3% on a year-over-year basis. Equities analysts predict that ProPetro Holding Corp. will post -0.09 EPS for the current year.

Analysts Set New Price Targets

PUMP has been the topic of several research reports. Barclays lowered their price target on shares of ProPetro from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a report on Friday, July 31st. Stifel Nicolaus reduced their price target on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Odeon Capital Group started coverage on ProPetro in a research note on Thursday, May 28th. They issued a “buy” rating for the company. Finally, Wall Street Zen lowered shares of ProPetro from a “hold” rating to a “sell” rating in a report on Saturday. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.12.

Insider Activity

In related news, COO Adam Munoz sold 70,696 shares of the firm’s 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 approximately $1,660,878.47. This trade represents a 32.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director G Larry Lawrence sold 35,831 shares of the firm’s stock in a transaction dated 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 directly owned 28,181 shares in the company, valued at $314,499.96. The trade was a 55.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is currently owned by 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.