Ratan Capital Management LP Makes New $4.19 Million Investment in ProPetro Holding Corp. $PUMP

Key Points

• Ratan Capital Management purchased 292,389 ProPetro shares worth approximately $4.19 million, representing about 0.24% of the company and 1.4% of its portfolio.
• Institutional investors own 84.7% of ProPetro, with BlackRock, Sourcerock Group and other firms making significant purchases or increasing their positions. Two insiders, however, sold shares in August.
• ProPetro missed quarterly EPS estimates, reporting a loss of $0.07 per share as revenue declined 6.3% year over year. Analysts maintain a consensus “Moderate Buy” rating with a $16.12 price target, above the reported $10.91 share price.

Ratan Capital Management LP purchased a new stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 292,389 shares of the company's stock, valued at approximately $4,193,000. ProPetro accounts for about 1.4% of Ratan Capital Management LP's investment portfolio, making the stock its 18th biggest holding. Ratan Capital Management LP owned approximately 0.24% of ProPetro as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in ProPetro in the 2nd quarter valued at $130,574,000. Valiant Capital Management L.P. acquired a new position in ProPetro during the 4th quarter worth $34,890,000. Sourcerock Group LLC boosted its holdings in ProPetro by 66.4% during the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company's stock valued at $50,198,000 after acquiring an additional 3,355,848 shares during the period. Cooper Creek Partners Management LLC bought a new stake in ProPetro during the first quarter valued at about $42,748,000. Finally, VR Advisory Services Ltd grew its position in shares of ProPetro by 213.2% in the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company's stock valued at $19,280,000 after purchasing an additional 2,504,634 shares during the last quarter. 84.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ProPetro news, Director G Larry Lawrence sold 35,831 shares of the business's 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 sale, the director 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Adam Munoz 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 transaction of $789,674.32. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by insiders.

ProPetro Stock Performance

NYSE PUMP opened at $10.91 on Friday. The company's fifty day moving average is $12.28 and its two-hundred day moving average is $13.74. ProPetro Holding Corp. has a 52-week low of $4.52 and a 52-week high of $18.50. 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 firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -99.18 and a beta of 0.77.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.06). ProPetro had a negative net margin of 1.15% and a negative return on equity of 1.49%. The company had revenue of $305.81 million for the quarter, compared to analyst estimates of $304.48 million. During the same period in the prior year, the company posted ($0.07) EPS. The firm's quarterly revenue was down 6.3% on a year-over-year basis. Equities research analysts forecast that ProPetro Holding Corp. will post -0.09 EPS for the current year.

Wall Street Analyst Weigh In

PUMP has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of ProPetro in a research note on Friday, July 31st. Odeon Capital Group started coverage on ProPetro in a research note on Thursday, May 28th. They set a "buy" rating for the company. Barclays lowered their target price on ProPetro from $23.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday, August 5th. Piper Sandler dropped their price target on ProPetro from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, 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, August 3rd. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.12.

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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