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

Key Points

• Director G. Larry Lawrence sold 35,831 ProPetro shares at an average price of $11.16, generating approximately $399,874. His remaining direct ownership fell 55.98% to 28,181 shares.
• ProPetro shares traded at $11.03, well below their 50-day and 200-day moving averages of roughly $13.70. The company’s latest quarterly loss of $0.07 per share missed analyst expectations, while revenue declined 6.3% year over year to $305.81 million.
• Despite lowered price targets from several analysts, ProPetro retains a consensus “Moderate Buy” rating with an average target of $16.50. Institutional investors own 84.70% of the company.

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) Director G Larry 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 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. This represents a 55.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

ProPetro Price Performance

ProPetro stock traded down $0.36 during trading hours on Wednesday, hitting $11.03. 2,654,064 shares of the stock were exchanged, compared to its average volume of 4,079,026. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $18.50. The business's 50-day moving average is $13.67 and its two-hundred day moving average is $13.70. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.00 and a current ratio of 4.09. The stock has a market capitalization of $1.36 billion, a P/E ratio of -100.30 and a beta of 0.77.

ProPetro (NYSE:PUMP - Get Free Report) last announced its 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). ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.The business had revenue of $305.81 million during the quarter, compared to analyst estimates of $304.48 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. The firm's revenue was down 6.3% compared to the same quarter last year. Equities research analysts expect that ProPetro Holding Corp. will post -0.02 EPS for the current fiscal year.

Analyst Ratings Changes

PUMP has been the topic of several research reports. Piper Sandler reduced their price target on shares of ProPetro from $20.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, July 30th. 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 report on Monday. Citigroup reduced their target price on shares of ProPetro from $20.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday. The Goldman Sachs Group reissued a "neutral" rating and set a $16.00 price target on shares of ProPetro in a research note on Wednesday, June 3rd. Finally, Barclays decreased their price objective on ProPetro from $23.00 to $18.00 and set an "overweight" rating on the stock in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ProPetro has a consensus rating of "Moderate Buy" and a consensus target price of $16.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wedge Capital Management L L P NC grew its position 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 during the period. PKO BP BANKOWY Universal Pension Society JSC boosted its stake in ProPetro by 0.9% in the second quarter. PKO BP BANKOWY Universal Pension Society JSC now owns 870,485 shares of the company's stock valued at $12,483,000 after acquiring an additional 8,000 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in ProPetro during the 2nd quarter worth $18,700,000. Bank of America Corp DE raised its position in shares of ProPetro by 1.1% during the 1st quarter. Bank of America Corp DE now owns 719,724 shares of the company's stock valued at $10,371,000 after acquiring an additional 7,532 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of ProPetro by 80.9% in the 1st quarter. California State Teachers Retirement System now owns 138,818 shares of the company's stock valued at $2,000,000 after purchasing an additional 62,090 shares during the period. Institutional investors own 84.70% of the company's stock.

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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