The Manufacturers Life Insurance Company Buys New Stake in ProPetro Holding Corp. $PUMP

The Manufacturers Life Insurance Company bought a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 44,265 shares of the company’s stock, valued at approximately $635,000.

A number of other institutional investors also recently added to or reduced their stakes in PUMP. ProShare Advisors LLC increased its holdings in shares of ProPetro by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 14,643 shares of the company’s stock valued at $139,000 after purchasing an additional 944 shares during the period. FourThought Financial Partners LLC increased its stake in ProPetro by 3.1% during the 4th quarter. FourThought Financial Partners LLC now owns 60,830 shares of the company’s stock valued at $578,000 after buying an additional 1,840 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in ProPetro by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock valued at $379,000 after buying an additional 2,230 shares during the period. Jane Street Group LLC raised its position in shares of ProPetro by 1.4% during the 1st quarter. Jane Street Group LLC now owns 224,275 shares of the company’s stock worth $1,648,000 after buying an additional 3,100 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of ProPetro by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 54,637 shares of the company’s stock worth $787,000 after buying an additional 3,219 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Price Performance

Shares of NYSE:PUMP opened at $11.49 on Monday. The company has a market capitalization of $1.41 billion, a PE ratio of -104.45 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. The stock has a fifty day moving average of $11.95 and a 200-day moving average of $13.74. ProPetro Holding Corp. has a one year low of $4.52 and a one year 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, equities analysts anticipate that ProPetro Holding Corp. will post -0.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on PUMP shares. Barclays dropped their target price on ProPetro from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProPetro in a research report on Friday, July 31st. Wall Street Zen lowered ProPetro from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Stifel Nicolaus decreased their target price on ProPetro from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $16.00 target price on shares of ProPetro in a report on Wednesday, June 3rd. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.12.

Insider Activity at ProPetro

In other news, COO Adam Muñoz sold 70,696 shares of ProPetro stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total transaction of $789,674.32. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director G Lawrence sold 35,831 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total value of $399,873.96. Following the transaction, the director directly owned 28,181 shares in the company, valued at $314,499.96. The trade was a 55.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.