Ratan Capital Management LP Takes Position in ProPetro Holding Corp. $PUMP

Ratan Capital Management LP bought a new position in ProPetro Holding Corp. (NYSE:PUMP) in the second quarter, HoldingsChannel.com reports. The fund bought 292,389 shares of the company’s stock, valued at approximately $4,193,000. ProPetro comprises about 1.4% of Ratan Capital Management LP’s portfolio, making the stock its 18th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ProPetro by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock worth $379,000 after purchasing an additional 2,230 shares during the last quarter. Millennium Management LLC boosted its stake in ProPetro by 44.6% during 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 last quarter. Jones Financial Companies Lllp boosted its stake in ProPetro by 16,264.8% during the 1st quarter. Jones Financial Companies Lllp now owns 27,002 shares of the company’s stock worth $198,000 after acquiring an additional 26,837 shares during the last quarter. Goldman Sachs Group Inc. grew 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 valued at $4,483,000 after purchasing an additional 21,519 shares during the period. Finally, Caxton Associates LLP bought a new stake in ProPetro in the first quarter valued at approximately $272,000. Institutional investors own 84.70% of the company’s stock.

ProPetro Stock Down 2.4%

PUMP stock opened at $10.91 on Friday. 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 stock has a market capitalization of $1.34 billion, a P/E ratio of -99.18 and a beta of 0.77. The business has a 50-day moving average of $12.28 and a 200-day moving average of $13.74. ProPetro Holding Corp. has a fifty-two week low of $4.52 and a fifty-two week high of $18.50.

ProPetro (NYSE:PUMP) last announced its earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share (EPS) 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. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) EPS. On average, sell-side analysts anticipate that ProPetro Holding Corp. will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 transaction of $789,674.32. Following the completion of the transaction, the chief operating officer directly owned 148,691 shares of the company’s stock, valued at $1,660,878.47. This trade represents a 32.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director G Larry Lawrence sold 35,831 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $11.16, for a total transaction of $399,873.96. Following the transaction, the director directly owned 28,181 shares of the company’s stock, valued at $314,499.96. This represents a 55.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on PUMP shares. Odeon Capital Group began coverage on ProPetro in a research note on Thursday, May 28th. They set a “buy” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a report on Friday, July 31st. Citigroup cut their price objective on ProPetro from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Piper Sandler dropped their target price on shares of ProPetro from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Wall Street Zen cut shares of ProPetro from a “hold” rating to a “sell” rating in a report on Saturday. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.