Empowered Funds LLC Acquires Shares of 1,014,148 ProPetro Holding Corp. $PUMP

Empowered Funds LLC acquired a new position in ProPetro Holding Corp. (NYSE:PUMP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,014,148 shares of the company’s stock, valued at approximately $14,543,000. Empowered Funds LLC owned 0.83% of ProPetro at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PUMP. Assenagon Asset Management S.A. purchased a new stake in shares of ProPetro in the 2nd quarter worth $18,700,000. Y Intercept Hong Kong Ltd bought a new position in shares of ProPetro during the first quarter valued at approximately $2,045,000. Jefferies Financial Group Inc. purchased a new position in ProPetro during the fourth quarter valued at approximately $3,085,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in ProPetro by 561.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,653,600 shares of the company’s stock valued at $23,828,000 after buying an additional 1,403,600 shares during the period. Finally, Sei Investments Co. raised its stake in ProPetro by 113.7% in the first quarter. Sei Investments Co. now owns 534,059 shares of the company’s stock worth $7,696,000 after buying an additional 284,109 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on PUMP shares. Citigroup decreased their price target on shares of ProPetro from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Barclays reduced their price objective on shares of ProPetro from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Wall Street Zen cut shares of ProPetro from a “hold” rating to a “sell” rating in a research report on Saturday. 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. Finally, Stifel Nicolaus cut their price target on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ProPetro has a consensus rating of “Moderate Buy” and an average price target of $16.12.

Insider Activity at ProPetro

In other news, COO Adam Munoz sold 70,696 shares of ProPetro stock in a transaction on 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 of the company’s stock, valued at approximately $1,660,878.47. The trade was a 32.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Larry Lawrence sold 35,831 shares of ProPetro stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.16, for a total value of $399,873.96. Following the sale, the director directly owned 28,181 shares of the company’s stock, valued at $314,499.96. This trade represents a 55.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.55% of the company’s stock.

ProPetro Trading Down 2.4%

Shares of ProPetro stock opened at $10.91 on Friday. 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’s 50 day simple moving average is $12.28 and its 200-day simple moving average is $13.74. The stock has a market cap of $1.34 billion, a P/E ratio of -99.18 and a beta of 0.77. ProPetro Holding Corp. has a 1-year low of $4.52 and a 1-year high of $18.50.

ProPetro (NYSE:PUMP) last posted its earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $305.81 million during the quarter, compared to analyst estimates of $304.48 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts predict that ProPetro Holding Corp. will post -0.09 EPS 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.