Alberta Investment Management Corp Acquires Shares of 402,000 ProPetro Holding Corp. $PUMP

Key Points

• Alberta Investment Management Corp. acquired 402,000 ProPetro shares valued at approximately $5.8 million, representing a 0.33% stake. Institutional investors collectively own 84.70% of the company.
• ProPetro shares recently traded up 5.8% to $12.80, but the company reported a quarterly EPS loss of $0.07, missing estimates, while revenue declined 6.3% year over year to $305.81 million.
• Analyst sentiment remains a Moderate Buy, with eight Buy, two Hold and one Sell ratings and a consensus price target of $16.50; however, company insiders recently sold substantial portions of their holdings.

Alberta Investment Management Corp bought a new position in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 402,000 shares of the company's stock, valued at approximately $5,765,000. Alberta Investment Management Corp owned 0.33% of ProPetro as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in ProPetro in the 4th quarter worth approximately $56,000. Dark Forest Capital Management LP bought a new stake in ProPetro during the 3rd quarter valued at $57,000. Raymond James Financial Inc. purchased a new stake in shares of ProPetro during the second quarter worth $60,000. Tower Research Capital LLC TRC lifted its position in shares of ProPetro by 70.5% during the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company's stock worth $64,000 after acquiring an additional 4,461 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of ProPetro during the first quarter worth $83,000. Institutional investors own 84.70% of the company's stock.

ProPetro Trading Up 5.8%

Shares of ProPetro stock opened at $12.80 on Tuesday. 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 Holding Corp. has a 1 year low of $4.51 and a 1 year high of $18.50. The firm has a market cap of $1.57 billion, a PE ratio of -116.36 and a beta of 0.77. The company has a 50 day simple moving average of $12.95 and a two-hundred day simple moving average of $13.76.

ProPetro (NYSE:PUMP - Get Free Report) last issued 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%.ProPetro's quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) EPS. Analysts expect that ProPetro Holding Corp. will post -0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Odeon Capital Group initiated coverage on ProPetro in a report on Thursday, May 28th. They set a "buy" rating on the stock. The Goldman Sachs Group restated a "neutral" rating and issued a $16.00 target price on shares of ProPetro in a research note on Wednesday, June 3rd. Piper Sandler reduced their target price on ProPetro from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, July 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of ProPetro in a research report on Friday, July 31st. Finally, Barclays lowered their price target on shares of ProPetro from $23.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.50.

Insider Buying and Selling at ProPetro

In related news, COO Adam Munoz sold 70,696 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $11.17, for a total value of $789,674.32. Following the completion of the transaction, the chief operating officer directly owned 148,691 shares in the company, valued at approximately $1,660,878.47. The trade was a 32.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Larry Lawrence sold 35,831 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total value of $399,873.96. Following the completion of the transaction, the director directly owned 28,181 shares in the company, valued at approximately $314,499.96. This represents a 55.98% decrease in their position. The SEC filing for this sale provides additional information. 1.55% of the stock is currently owned by insiders.

ProPetro 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.

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