Connor Clark & Lunn Investment Management Ltd. Invests $9.41 Million in ProPetro Holding Corp. $PUMP

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in ProPetro Holding Corp. (NYSE:PUMP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 655,941 shares of the company’s stock, valued at approximately $9,406,000.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in ProPetro during the 2nd quarter worth approximately $18,700,000. Y Intercept Hong Kong Ltd purchased a new position in ProPetro in the 1st quarter valued at approximately $2,045,000. Jefferies Financial Group Inc. purchased a new position in ProPetro in the 4th quarter valued at approximately $3,085,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of ProPetro by 561.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,653,600 shares of the company’s stock worth $23,828,000 after acquiring an additional 1,403,600 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of ProPetro by 113.7% in the first quarter. Sei Investments Co. now owns 534,059 shares of the company’s stock worth $7,696,000 after acquiring an additional 284,109 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Trading Down 0.1%

NYSE PUMP opened at $10.59 on Thursday. ProPetro Holding Corp. has a 52 week low of $4.52 and a 52 week high of $18.50. The firm has a 50 day moving average of $12.43 and a two-hundred day moving average of $13.76. The company has a quick ratio of 4.00, a current ratio of 4.09 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $1.30 billion, a PE ratio of -96.27 and a beta of 0.77.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data 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 net margin of 1.15% and a negative return on equity of 1.49%. The firm had revenue of $305.81 million during the quarter, compared to analyst estimates of $304.48 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. ProPetro’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, research analysts expect that ProPetro Holding Corp. will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other ProPetro news, COO Adam Munoz sold 70,696 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total value of $789,674.32. Following the sale, the chief operating officer directly owned 148,691 shares in the company, valued at $1,660,878.47. This trade represents a 32.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director G Larry Lawrence sold 35,831 shares of ProPetro 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 sale, the director directly owned 28,181 shares of the company’s stock, valued at $314,499.96. This trade represents a 55.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.55% of the company’s stock.

Wall Street Analysts Forecast Growth

PUMP has been the topic of several analyst reports. Citigroup reduced their price objective on ProPetro from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a research note on Friday, July 31st. The Goldman Sachs Group restated a “neutral” rating and set a $16.00 price target on shares of ProPetro in a report on Wednesday, June 3rd. Stifel Nicolaus reduced their price target on ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Finally, Odeon Capital Group initiated coverage on ProPetro in a research note on Thursday, May 28th. They issued a “buy” rating for the company. Eight investment 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 presently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

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.