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

ProPetro Holding Corp. (NYSE:PUMP) COO Adam Munoz sold 70,696 shares of the firm’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 sale, the chief operating officer directly owned 148,691 shares in the company, valued at approximately $1,660,878.47. This trade represents a 32.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

ProPetro Trading Down 0.5%

ProPetro stock opened at $10.95 on Friday. The firm has a market cap of $1.34 billion, a PE ratio of -99.52 and a beta of 0.77. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $18.50. The stock’s 50 day simple moving average is $13.50 and its two-hundred day simple moving average is $13.71. The company has a current ratio of 4.09, a quick ratio of 4.00 and a debt-to-equity ratio of 0.80.

ProPetro (NYSE:PUMP) last issued 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). The firm had revenue of $305.81 million during 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 company’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) EPS. Analysts anticipate that ProPetro Holding Corp. will post -0.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PUMP shares. Barclays lowered their price target on ProPetro from $23.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday. Piper Sandler lowered their price target on shares of ProPetro from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Odeon Capital Group assumed coverage on shares of ProPetro in a report on Thursday, May 28th. They issued a “buy” rating for the company. Citigroup cut their price target on ProPetro from $20.00 to $16.00 and set a “buy” rating for the company in a report on Monday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a report on Friday, July 31st. Eight equities 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 stock. According to MarketBeat.com, ProPetro has an average rating of “Moderate Buy” and an average price target of $16.50.

Hedge Funds Weigh In On ProPetro

Hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC grew its holdings in shares of ProPetro by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 14,643 shares of the company’s stock worth $139,000 after purchasing an additional 944 shares during the last quarter. FourThought Financial Partners LLC lifted its holdings in shares of ProPetro by 3.1% in the 4th quarter. FourThought Financial Partners LLC now owns 60,830 shares of the company’s stock valued at $578,000 after purchasing an additional 1,840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 valued at $379,000 after purchasing an additional 2,230 shares during the period. Jane Street Group LLC boosted its position in shares of ProPetro by 1.4% in the 1st quarter. Jane Street Group LLC now owns 224,275 shares of the company’s stock valued at $1,648,000 after purchasing an additional 3,100 shares during the period. Finally, Lazard Asset Management LLC grew its stake in ProPetro by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 54,637 shares of the company’s stock worth $787,000 after buying an additional 3,219 shares during the last quarter. 84.70% of the stock is currently 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.