ProPetro (NYSE:PUMP) COO Sells 70,696 Shares of Stock

Key Points

• ProPetro COO Adam Munoz sold 70,696 shares at an average price of $11.17, generating approximately $789,674. After the sale, his holdings fell 32.22% to 148,691 shares.
• ProPetro shares declined 3.1% to $11.03. The company recently reported a quarterly EPS loss of $0.07, missing estimates by $0.06, while revenue of $305.81 million exceeded expectations but fell 6.3% year over year.
• Analysts maintain a consensus “Moderate Buy” rating with a $16.50 price target, despite several recent target reductions. Institutional investors and hedge funds own approximately 84.7% of the company.

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) COO Adam Munoz sold 70,696 shares of ProPetro stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total value of $789,674.32. Following the transaction, the chief operating officer owned 148,691 shares in the company, valued at approximately $1,660,878.47. This represents a 32.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

ProPetro Trading Down 3.1%

Shares of ProPetro stock traded down $0.36 during trading hours on Wednesday, hitting $11.03. The company's stock had a trading volume of 2,654,064 shares, compared to its average volume of 4,079,026. The company has a market capitalization of $1.36 billion, a PE ratio of -100.30 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 stock has a 50 day moving average of $13.67 and a 200 day moving average of $13.70. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $18.50.

ProPetro (NYSE:PUMP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The business had revenue of $305.81 million during the quarter, compared to analyst estimates of $304.48 million. ProPetro had a negative net margin of 1.15% and a negative return on equity of 1.49%. ProPetro's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. Analysts predict that ProPetro Holding Corp. will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On ProPetro

Large investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of ProPetro in the fourth quarter valued at about $56,000. Dark Forest Capital Management LP bought a new position in ProPetro in the third quarter valued at approximately $57,000. Raymond James Financial Inc. bought a new position in ProPetro in the second quarter valued at approximately $60,000. Tower Research Capital LLC TRC increased its position 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 last quarter. Finally, State of Wyoming acquired a new position in shares of ProPetro during the 1st quarter worth approximately $83,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on PUMP shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ProPetro in a research report on Friday. Citigroup decreased their price objective on ProPetro from $20.00 to $16.00 and set a "buy" rating for the company in a report on Monday. Piper Sandler dropped their target price on 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 price target on ProPetro from $23.00 to $20.00 and set a "buy" rating for the company in a research report on Monday. Finally, Odeon Capital Group started coverage on shares of ProPetro in a research note on Thursday, May 28th. They set a "buy" rating for the company. 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.50.

ProPetro Company 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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