Moore Capital Management LP Takes $10.52 Million Position in ProPetro Holding Corp. $PUMP

Moore Capital Management LP purchased a new stake in ProPetro Holding Corp. (NYSE:PUMP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 733,512 shares of the company’s stock, valued at approximately $10,519,000. Moore Capital Management LP owned 0.60% of ProPetro at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in ProPetro in the second quarter valued at about $130,574,000. Valiant Capital Management L.P. acquired a new stake in ProPetro during the fourth quarter worth about $34,890,000. Sourcerock Group LLC grew its stake in ProPetro by 66.4% during the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock worth $50,198,000 after buying an additional 3,355,848 shares in the last quarter. Cooper Creek Partners Management LLC bought a new position in ProPetro in the 1st quarter valued at about $42,748,000. Finally, VR Advisory Services Ltd increased its holdings in ProPetro by 213.2% in the 3rd quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after buying an additional 2,504,634 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

Insider Activity at ProPetro

In related news, Director G Larry Lawrence sold 35,831 shares of the firm’s stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam Munoz sold 70,696 shares of ProPetro stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total value of $789,674.32. Following the completion of the transaction, the chief operating officer directly owned 148,691 shares in the company, valued at approximately $1,660,878.47. This represents a 32.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PUMP. Stifel Nicolaus reduced their price target on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Piper Sandler decreased their price target on ProPetro from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday. The Goldman Sachs Group reissued a “neutral” rating and set a $16.00 price target on shares of ProPetro in a report on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a research report on Friday, July 31st. Finally, Odeon Capital Group assumed coverage on ProPetro in a research note on Thursday, May 28th. They issued a “buy” rating on the stock. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ProPetro presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.12.

ProPetro Stock Down 0.6%

Shares of NYSE:PUMP opened at $10.91 on Monday. The company has a fifty day moving average of $12.28 and a 200-day moving average of $13.75. The company has a market capitalization of $1.34 billion, a PE ratio of -99.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.00 and a current ratio of 4.09. ProPetro Holding Corp. has a 52-week low of $4.52 and a 52-week high of $18.50.

ProPetro (NYSE:PUMP) last released its quarterly earnings data 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). The firm had revenue of $305.81 million for the quarter, compared to analyst estimates of $304.48 million. ProPetro had a negative net margin of 1.15% and a negative return on equity of 1.49%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business earned ($0.07) EPS. On average, equities 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.