ProPetro Holding Corp. $PUMP Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC grew its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 80.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 622,179 shares of the company’s stock after buying an additional 278,172 shares during the quarter. Squarepoint Ops LLC owned about 0.51% of ProPetro worth $8,922,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PUMP. BlackRock Inc. acquired a new position in shares of ProPetro during the second quarter valued at approximately $130,574,000. Sourcerock Group LLC lifted its position in ProPetro by 66.4% in the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock worth $50,198,000 after purchasing an additional 3,355,848 shares during the period. Dimensional Fund Advisors LP lifted its position in ProPetro by 14.7% in the first quarter. Dimensional Fund Advisors LP now owns 6,481,970 shares of the company’s stock worth $93,408,000 after purchasing an additional 831,823 shares during the period. Philosophy Capital Management LLC boosted its stake in ProPetro by 14.8% during the 3rd quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock valued at $21,208,000 after purchasing an additional 520,327 shares in the last quarter. Finally, VR Advisory Services Ltd boosted its stake in ProPetro by 213.2% during the 3rd 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 in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Stock Performance

Shares of NYSE PUMP opened at $11.49 on Friday. The company has a quick ratio of 4.00, a current ratio of 4.09 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -104.50 and a beta of 0.77. The stock’s fifty day simple moving average is $11.81 and its 200 day simple moving average is $13.75. ProPetro Holding Corp. has a 52-week low of $4.64 and a 52-week high of $18.50.

ProPetro (NYSE:PUMP) last announced its earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $305.81 million for the quarter, compared to analyst estimates of $304.48 million. During the same period last year, the firm earned ($0.07) earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that ProPetro Holding Corp. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PUMP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research note on Friday, July 31st. Odeon Capital Group initiated coverage on shares of ProPetro in a research report on Thursday, May 28th. They issued a “buy” rating on the stock. Wall Street Zen downgraded shares of ProPetro from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Piper Sandler reduced their price objective on shares of ProPetro from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, August 27th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $16.00 price objective on shares of ProPetro in a research note on Wednesday, June 3rd. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ProPetro currently has an average rating of “Moderate Buy” and an average target price of $16.12.

Insider Transactions at ProPetro

In other ProPetro news, Director G Lawrence sold 35,831 shares of the company’s 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 completion of the sale, the director directly owned 28,181 shares of the company’s stock, valued at approximately $314,499.96. This represents a 55.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Adam Muñoz sold 70,696 shares of the firm’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 completion of the transaction, the chief operating officer 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 ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.55% of the company’s stock.

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.