G Larry Lawrence Sells 35,831 Shares of ProPetro (NYSE:PUMP) Stock

ProPetro Holding Corp. (NYSE:PUMP) Director G Larry Lawrence sold 35,831 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were 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. The trade was a 55.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

ProPetro Stock Performance

Shares of ProPetro stock opened at $10.95 on Friday. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -99.52 and a beta of 0.77. ProPetro Holding Corp. has a twelve month low of $4.51 and a twelve month high of $18.50. The company’s fifty day moving average is $13.50 and its 200 day moving average is $13.71. The company has a quick ratio of 4.00, a current ratio of 4.09 and a debt-to-equity ratio of 0.80.

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 the consensus estimate of ($0.01) by ($0.06). The company had revenue of $305.81 million for the quarter, compared to the consensus estimate of $304.48 million. ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) earnings per share. Sell-side analysts forecast that ProPetro Holding Corp. will post -0.06 EPS for the current year.

Analyst Upgrades and Downgrades

PUMP has been the subject of a number of analyst reports. Stifel Nicolaus lowered their price objective on ProPetro from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Monday. Citigroup reduced their target price on ProPetro from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Monday. 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. Odeon Capital Group started coverage on shares of ProPetro in a research report on Thursday, May 28th. They issued a “buy” rating on the stock. Finally, Piper Sandler decreased their price objective on shares of ProPetro from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Institutional Investors Weigh In On ProPetro

Several institutional investors and hedge funds have recently made changes to their positions in the business. Alberta Investment Management Corp bought a new stake in ProPetro in the second quarter worth approximately $5,765,000. Bank of New York Mellon Corp acquired a new position in ProPetro in the second quarter valued at approximately $4,380,000. State of Wyoming bought a new position in shares of ProPetro during the 2nd quarter worth approximately $316,000. Wedge Capital Management L L P NC boosted its holdings in shares of ProPetro by 26.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 143,025 shares of the company’s stock worth $2,051,000 after buying an additional 29,745 shares in the last quarter. Finally, PKO BP BANKOWY Universal Pension Society JSC grew its position in shares of ProPetro by 0.9% during the 2nd quarter. PKO BP BANKOWY Universal Pension Society JSC now owns 870,485 shares of the company’s stock worth $12,483,000 after buying an additional 8,000 shares during the period. Institutional investors own 84.70% of the company’s stock.

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.