J. Goldman & Co LP Makes New $1.72 Million Investment in ProPetro Holding Corp. $PUMP

J. Goldman & Co LP acquired a new stake in ProPetro Holding Corp. (NYSE:PUMP) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 120,000 shares of the company’s stock, valued at approximately $1,721,000.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in ProPetro during the second quarter worth about $130,574,000. Sourcerock Group LLC raised its stake in ProPetro by 66.4% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ProPetro by 14.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,481,970 shares of the company’s stock valued at $93,408,000 after purchasing an additional 831,823 shares during the period. Philosophy Capital Management LLC grew its position in shares of ProPetro by 14.8% during the 3rd quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock worth $21,208,000 after purchasing an additional 520,327 shares in the last quarter. Finally, VR Advisory Services Ltd grew its position in shares of ProPetro by 213.2% during the 3rd quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock worth $19,280,000 after purchasing an additional 2,504,634 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PUMP. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a research note on Friday, July 31st. Piper Sandler reduced their target price on ProPetro from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Citigroup reduced their target price on ProPetro from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Odeon Capital Group began coverage on ProPetro in a research note on Thursday, May 28th. They issued a “buy” rating for the company. Finally, Stifel Nicolaus cut their price objective on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.50.

ProPetro Trading Down 1.8%

Shares of PUMP stock opened at $10.62 on Wednesday. The firm has a market capitalization of $1.30 billion, a P/E ratio of -96.56 and a beta of 0.77. ProPetro Holding Corp. has a twelve month low of $4.52 and a twelve month high of $18.50. 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’s fifty day simple moving average is $12.52 and its 200 day simple moving average is $13.76.

ProPetro (NYSE:PUMP) last posted 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 for the quarter, compared to analyst estimates of $304.48 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts predict that ProPetro Holding Corp. will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling at ProPetro

In other ProPetro news, Director G Larry Lawrence sold 35,831 shares of the stock in a transaction dated Tuesday, August 4th. The stock was 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 in the company, valued at approximately $314,499.96. This trade represents a 55.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 value of $789,674.32. Following the sale, the chief operating officer owned 148,691 shares in the company, valued at approximately $1,660,878.47. The trade was a 32.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.55% 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.