Quantbot Technologies LP Purchases New Position in ProPetro Holding Corp. $PUMP

Quantbot Technologies LP purchased a new stake in ProPetro Holding Corp. (NYSE:PUMP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 65,188 shares of the company’s stock, valued at approximately $935,000. Quantbot Technologies LP owned approximately 0.05% of ProPetro as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PUMP. Aster Capital Management DIFC Ltd bought a new position in shares of ProPetro in the fourth quarter valued at approximately $56,000. Dark Forest Capital Management LP acquired a new position in ProPetro in the third quarter worth $57,000. Raymond James Financial Inc. bought a new stake in shares of ProPetro during the second quarter worth $60,000. Tower Research Capital LLC TRC grew its holdings in shares of ProPetro by 70.5% during the second 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 stake in shares of ProPetro in the first quarter valued at $83,000. 84.70% of the stock is owned by institutional investors.

ProPetro Trading Down 0.1%

Shares of PUMP opened at $10.59 on Thursday. The stock’s fifty day simple moving average is $12.43 and its 200-day simple moving average is $13.76. The firm has a market capitalization of $1.30 billion, a PE ratio of -96.27 and a beta of 0.77. ProPetro Holding Corp. has a 12-month low of $4.52 and a 12-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.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.07) 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 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 business earned ($0.07) earnings per share. ProPetro’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, research analysts predict that ProPetro Holding Corp. will post -0.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PUMP shares. Barclays cut their price target on ProPetro from $23.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. The Goldman Sachs Group restated a “neutral” rating and issued a $16.00 price objective on shares of ProPetro in a research report on Wednesday, June 3rd. Citigroup dropped their target price on shares of ProPetro from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Piper Sandler reduced their target price 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. Finally, Stifel Nicolaus decreased their price target on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Eight equities research 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’s stock. According to MarketBeat, ProPetro currently has an average rating of “Moderate Buy” and an average price target of $16.50.

Insider Activity at ProPetro

In related news, COO Adam Munoz sold 70,696 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $11.17, for a total value of $789,674.32. Following the transaction, the chief operating officer directly owned 148,691 shares in the company, valued at $1,660,878.47. This represents a 32.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director G Larry Lawrence sold 35,831 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 28,181 shares in the company, valued at approximately $314,499.96. The trade was a 55.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by insiders.

ProPetro 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.