70,341 ProPetro Holding Corp. $PUMP Shares Sold by PKO BP BANKOWY Universal Pension Society JSC

PKO BP BANKOWY Universal Pension Society JSC reduced its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 8.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 800,144 shares of the company’s stock after selling 70,341 shares during the quarter. ProPetro comprises about 2.1% of PKO BP BANKOWY Universal Pension Society JSC’s investment portfolio, making the stock its 10th biggest position. PKO BP BANKOWY Universal Pension Society JSC owned 0.65% of ProPetro worth $7,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PUMP. Public Employees Retirement System of Ohio purchased a new position in shares of ProPetro in the 2nd quarter worth approximately $74,000. State of Wyoming purchased a new stake in ProPetro during the 1st quarter valued at $83,000. Caitong International Asset Management Co. Ltd purchased a new stake in ProPetro during the 4th quarter valued at $111,000. Sequoia Financial Advisors LLC bought a new stake in ProPetro in the first quarter worth $177,000. Finally, Alpine Global Management LLC bought a new stake in ProPetro in the fourth quarter worth $118,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other ProPetro news, 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 value of $789,674.32. Following the transaction, the chief operating officer directly owned 148,691 shares in the company, valued at $1,660,878.47. This represents a 32.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director G 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 in the company, valued at approximately $314,499.96. This trade represents a 55.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PUMP has been the topic of several recent analyst reports. Stifel Nicolaus reduced 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. Wall Street Zen cut shares of ProPetro from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Weiss Ratings downgraded shares of ProPetro from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 29th. Barclays reduced their price objective on shares of ProPetro from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Finally, Piper Sandler decreased their price objective 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. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, ProPetro presently has an average rating of “Moderate Buy” and a consensus price target of $15.25.

ProPetro Trading Up 1.6%

Shares of NYSE:PUMP traded up $0.14 on Friday, hitting $9.19. 1,024,717 shares of the company’s stock were exchanged, compared to its average volume of 3,903,924. ProPetro Holding Corp. has a 12 month low of $4.87 and a 12 month high of $18.50. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -83.48 and a beta of 0.86. The business’s 50 day simple moving average is $10.76 and its two-hundred day simple moving average is $13.30. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.09 and a quick ratio of 4.00.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The company had revenue of $305.81 million during 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 company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) earnings per share. Analysts anticipate that ProPetro Holding Corp. will post -0.11 EPS for the current fiscal year.

About ProPetro

ProPetro Holding Corp. is an oilfield services company that provides completion and production services to exploration and production companies. Through its operating subsidiaries, the company primarily supports the development of unconventional oil and natural gas wells.

ProPetro’s services include hydraulic fracturing, well stimulation, wireline services and related completion activities. Its hydraulic fracturing operations use fleets of high-pressure pumping equipment to help operators complete wells, while its wireline business supports well intervention, evaluation and perforating activities.

Headquartered in Midland, Texas, ProPetro primarily serves customers operating in the Permian Basin of West Texas and southeastern New Mexico, one of the largest U.S.