UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stake in ProPetro Holding Corp. $PUMP

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in ProPetro Holding Corp. (NYSE:PUMP) by 25.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,194 shares of the company’s stock after selling 45,588 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.11% of ProPetro worth $1,867,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ProPetro by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock valued at $379,000 after purchasing an additional 2,230 shares during the period. Millennium Management LLC grew its position in ProPetro by 44.6% during the first quarter. Millennium Management LLC now owns 735,731 shares of the company’s stock valued at $5,408,000 after buying an additional 226,914 shares during the period. Jones Financial Companies Lllp increased its holdings in ProPetro by 16,264.8% in the first quarter. Jones Financial Companies Lllp now owns 27,002 shares of the company’s stock valued at $198,000 after buying an additional 26,837 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in ProPetro by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 609,935 shares of the company’s stock valued at $4,483,000 after buying an additional 21,519 shares in the last quarter. Finally, Caxton Associates LLP purchased a new position in ProPetro in the first quarter valued at $272,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insider Buying and Selling

In related news, COO Adam Muñoz sold 70,696 shares of the 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 sale, the chief operating officer owned 148,691 shares of the company’s stock, valued at approximately $1,660,878.47. This trade represents a 32.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director G Lawrence sold 35,831 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 28,181 shares of the company’s stock, valued at approximately $314,499.96. This represents a 55.98% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PUMP. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a research note on Friday, July 31st. Wall Street Zen cut ProPetro from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Citigroup lowered their price target on ProPetro from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Barclays dropped their price objective on ProPetro from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Finally, Odeon Capital Group initiated coverage on ProPetro in a research report on Thursday, May 28th. They issued a “buy” rating for the company. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ProPetro currently has a consensus rating of “Moderate Buy” and an average price target of $16.12.

ProPetro Price Performance

Shares of NYSE PUMP opened at $11.41 on Friday. The firm has a 50-day simple moving average of $11.79 and a 200-day simple moving average of $13.74. 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 has a market capitalization of $1.40 billion, a price-to-earnings ratio of -103.69 and a beta of 0.77. ProPetro Holding Corp. has a 52 week low of $4.64 and a 52 week high of $18.50.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share 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 business had revenue of $305.81 million for the quarter, compared to analyst estimates of $304.48 million. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. On average, equities analysts predict that ProPetro Holding Corp. will post -0.1 earnings per share 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.