ProPetro (NYSE:PUMP) Director Sells $399,873.96 in Stock

ProPetro Holding Corp. (NYSE:PUMP) Director G Larry Lawrence sold 35,831 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total value of $399,873.96. Following the completion of the sale, the director owned 28,181 shares of the company’s stock, valued at approximately $314,499.96. This represents a 55.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

ProPetro Stock Performance

Shares of ProPetro stock opened at $10.97 on Friday. The business has a 50-day simple moving average of $13.41 and a 200 day simple moving average of $13.69. ProPetro Holding Corp. has a one year low of $4.51 and a one year high of $18.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.09 and a quick ratio of 4.00. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -99.77 and a beta of 0.77.

ProPetro (NYSE:PUMP) last announced 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). 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 during the quarter, compared to the consensus estimate of $304.48 million. During the same quarter in the previous year, the company posted ($0.07) EPS. The firm’s revenue was down 6.3% on a year-over-year basis. On average, research analysts anticipate that ProPetro Holding Corp. will post -0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PUMP has been the subject of several research reports. Citigroup reduced their price target on shares of ProPetro from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Stifel Nicolaus lowered their price objective on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Monday. The Goldman Sachs Group reiterated a “neutral” rating and set a $16.00 price objective on shares of ProPetro in a report on Wednesday, June 3rd. Barclays decreased their target price on shares of ProPetro from $23.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Odeon Capital Group started coverage on shares of ProPetro in a report on Thursday, May 28th. They issued a “buy” rating on the stock. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ProPetro presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Hedge Funds Weigh In On ProPetro

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

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.