ProPetro Holding Corp. $PUMP Shares Acquired by Fund 1 Investments LLC

Key Points

• Fund 1 Investments LLC increased its ProPetro stake by 2,653.6% in the second quarter, acquiring 1.73 million additional shares for a total holding of 1.79 million shares, or about 1.46% of PUMP.
• Institutional investors own 84.7% of ProPetro, while company insiders recently reduced their holdings through stock sales by a director and the COO.
• Analyst sentiment remains mixed but leans positive, with a “Moderate Buy” consensus and an average price target of $16.12. ProPetro’s latest quarterly results missed EPS expectations, while revenue declined 6.3% year over year.

Fund 1 Investments LLC lifted its stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 2,653.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,793,882 shares of the company's stock after buying an additional 1,728,736 shares during the quarter. ProPetro makes up 4.3% of Fund 1 Investments LLC's holdings, making the stock its 7th largest position. Fund 1 Investments LLC owned about 1.46% of ProPetro worth $25,724,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State of Wyoming acquired a new position in ProPetro in the first quarter valued at approximately $83,000. Aster Capital Management DIFC Ltd purchased a new stake in ProPetro in the 4th quarter worth approximately $56,000. Raymond James Financial Inc. acquired a new stake in shares of ProPetro during the 2nd quarter worth approximately $60,000. Tower Research Capital LLC TRC grew its stake in shares of ProPetro by 70.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company's stock worth $64,000 after purchasing an additional 4,461 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in shares of ProPetro during the 3rd quarter valued at approximately $57,000. 84.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director G Lawrence sold 35,831 shares of ProPetro stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total value of $399,873.96. Following the sale, the director owned 28,181 shares in the company, valued at $314,499.96. This trade represents a 55.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Adam Muñoz sold 70,696 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total transaction of $789,674.32. Following the sale, the chief operating officer directly owned 148,691 shares of the company's stock, valued at $1,660,878.47. This represents a 32.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PUMP shares. Piper Sandler decreased their target price 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. The Goldman Sachs Group restated a "neutral" rating and set a $16.00 price target on shares of ProPetro in a research report on Wednesday, June 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ProPetro in a report on Friday, July 31st. Wall Street Zen downgraded shares of ProPetro from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. Finally, Barclays decreased their price objective on shares of ProPetro from $23.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ProPetro has an average rating of "Moderate Buy" and an average price target of $16.12.

ProPetro Trading Up 2.2%

Shares of NYSE:PUMP opened at $11.49 on Friday. ProPetro Holding Corp. has a 1 year low of $4.52 and a 1 year high of $18.50. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -104.45 and a beta of 0.77. 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 business's 50 day moving average price is $11.95 and its 200-day moving average price is $13.73.

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 the consensus estimate of ($0.01) by ($0.06). The company had revenue of $305.81 million during the quarter, compared to analysts' expectations of $304.48 million. ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.ProPetro's revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. On average, equities research analysts forecast that ProPetro Holding Corp. will post -0.09 earnings per share for the current fiscal year.

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.

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