Jupiter Topco LLC Purchases New Stake in ProPetro Holding Corp. $PUMP

Jupiter Topco LLC acquired a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 46,354 shares of the company’s stock, valued at approximately $664,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PUMP. J. Goldman & Co LP bought a new position in shares of ProPetro during the second quarter valued at approximately $1,721,000. Manatuck Hill Partners LLC acquired a new stake in ProPetro in the second quarter worth $5,019,000. SIR Capital Management L.P. bought a new stake in ProPetro in the second quarter valued at $11,986,000. Legal & General Group Plc acquired a new position in shares of ProPetro during the second quarter valued at $760,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of ProPetro during the second quarter worth about $635,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Stock Performance

PUMP opened at $11.49 on Monday. The business has a 50 day moving average price of $11.95 and a two-hundred day moving average price of $13.74. 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 company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -104.45 and a beta of 0.77. ProPetro Holding Corp. has a 1-year low of $4.52 and a 1-year high of $18.50.

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). ProPetro had a negative net margin of 1.15% and a negative return on equity of 1.49%. The firm had revenue of $305.81 million for the quarter, compared to analyst estimates of $304.48 million. During the same quarter last year, the business posted ($0.07) earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts predict that ProPetro Holding Corp. will post -0.09 EPS for the current fiscal year.

Insider Activity

In other ProPetro news, Director G Lawrence sold 35,831 shares of the business’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 sale, the director directly owned 28,181 shares in the company, valued at approximately $314,499.96. The trade was a 55.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adam Muñoz sold 70,696 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $11.17, for a total transaction of $789,674.32. Following the completion of the sale, the chief operating officer directly owned 148,691 shares of the company’s stock, valued at $1,660,878.47. The trade was a 32.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PUMP shares. Piper Sandler reduced their target price on shares of ProPetro from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, August 27th. Odeon Capital Group assumed coverage on ProPetro in a research report on Thursday, May 28th. They set a “buy” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a report on Friday, July 31st. Wall Street Zen downgraded shares of ProPetro from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Finally, Stifel Nicolaus lowered their target price on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.12.

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.