ProPetro (NYSE:PUMP) COO Adam Munoz Sells 70,696 Shares

ProPetro Holding Corp. (NYSE:PUMP) COO Adam Munoz sold 70,696 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total value of $789,674.32. Following the transaction, the chief operating officer owned 148,691 shares in the company, valued at approximately $1,660,878.47. This represents a 32.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

ProPetro Price Performance

PUMP stock opened at $11.03 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.00 and a current ratio of 4.09. ProPetro Holding Corp. has a 1 year low of $4.51 and a 1 year high of $18.50. The firm has a market cap of $1.36 billion, a P/E ratio of -100.30 and a beta of 0.77. The stock has a 50-day simple moving average of $13.58 and a 200-day simple moving average of $13.71.

ProPetro (NYSE:PUMP) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The company had revenue of $305.81 million for the quarter, compared to analyst estimates of $304.48 million. ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.The business’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm posted ($0.07) earnings per share. On average, equities analysts predict that ProPetro Holding Corp. will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PUMP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of ProPetro by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock valued at $379,000 after acquiring an additional 2,230 shares during the period. Millennium Management LLC increased its holdings in shares of ProPetro by 44.6% in the 1st quarter. Millennium Management LLC now owns 735,731 shares of the company’s stock worth $5,408,000 after acquiring an additional 226,914 shares during the period. Jones Financial Companies Lllp lifted its position in ProPetro by 16,264.8% in the 1st quarter. Jones Financial Companies Lllp now owns 27,002 shares of the company’s stock valued at $198,000 after purchasing an additional 26,837 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in ProPetro by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 609,935 shares of the company’s stock valued at $4,483,000 after purchasing an additional 21,519 shares during the last quarter. Finally, Caxton Associates LLP bought a new position in ProPetro in the 1st quarter worth about $272,000. 84.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PUMP shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProPetro in a report on Friday, July 31st. Barclays cut their target price on ProPetro from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday. Piper Sandler decreased their price target on shares of ProPetro from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. The Goldman Sachs Group restated a “neutral” rating and issued a $16.00 price target on shares of ProPetro in a research note on Wednesday, June 3rd. Finally, Odeon Capital Group started coverage on shares of ProPetro in a research note on Thursday, May 28th. They set a “buy” rating on the stock. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

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.