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

Squarepoint Ops LLC raised its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 127.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,166 shares of the company’s stock after acquiring an additional 57,226 shares during the quarter. Squarepoint Ops LLC’s holdings in ProPetro were worth $610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of ProPetro in the 1st quarter valued at about $25,000. State of Wyoming acquired a new stake in ProPetro during the first quarter valued at approximately $48,000. PharVision Advisers LLC bought a new position in ProPetro during the 2nd quarter worth approximately $60,000. Raymond James Financial Inc. acquired a new position in shares of ProPetro in the 2nd quarter worth approximately $60,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of ProPetro by 70.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after acquiring an additional 4,461 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PUMP. Zacks Research upgraded ProPetro from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 23rd. Piper Sandler upgraded shares of ProPetro from a “neutral” rating to an “overweight” rating and set a $16.00 price target on the stock in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research report on Monday. JPMorgan Chase & Co. raised shares of ProPetro from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $7.00 to $13.00 in a report on Wednesday, December 10th. Finally, Barclays reaffirmed a “neutral” rating on shares of ProPetro in a report on Wednesday, December 17th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.50.

Insider Buying and Selling

In other ProPetro news, Director Michele Vion sold 6,916 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $10.64, for a total transaction of $73,586.24. Following the completion of the transaction, the director owned 45,029 shares in the company, valued at approximately $479,108.56. The trade was a 13.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director G Larry Lawrence sold 27,000 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $10.84, for a total value of $292,680.00. Following the completion of the transaction, the director directly owned 35,831 shares of the company’s stock, valued at approximately $388,408.04. The trade was a 42.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.60% of the company’s stock.

ProPetro Stock Up 0.5%

PUMP stock opened at $9.40 on Wednesday. The stock has a market cap of $977.00 million, a PE ratio of -55.27 and a beta of 0.80. The firm’s 50-day simple moving average is $9.30 and its 200 day simple moving average is $6.83. ProPetro Holding Corp. has a fifty-two week low of $4.51 and a fifty-two week high of $11.66. The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 0.11.

ProPetro (NYSE:PUMP) last posted its earnings results on Wednesday, October 29th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.09. ProPetro had a negative net margin of 1.31% and a negative return on equity of 0.06%. The firm had revenue of $293.92 million during the quarter, compared to analysts’ expectations of $266.25 million. During the same quarter in the prior year, the firm earned ($1.32) EPS. ProPetro’s quarterly revenue was down 18.6% on a year-over-year basis. As a group, sell-side analysts predict that ProPetro Holding Corp. will post 0.25 EPS for the current 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.