Squarepoint Ops LLC Increases Stake in ProPetro Holding Corp. $PUMP

Squarepoint Ops LLC increased its stake in ProPetro Holding Corp. (NYSE:PUMP) by 127.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102,166 shares of the company’s stock after acquiring an additional 57,226 shares during the period. Squarepoint Ops LLC owned approximately 0.10% of ProPetro worth $610,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in ProPetro by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,114,259 shares of the company’s stock worth $8,190,000 after purchasing an additional 63,686 shares during the period. Hsbc Holdings PLC increased its holdings in shares of ProPetro by 3.5% during the 1st quarter. Hsbc Holdings PLC now owns 49,858 shares of the company’s stock worth $371,000 after buying an additional 1,675 shares during the last quarter. AlphaQuest LLC raised its position in shares of ProPetro by 1,959.9% in the 1st quarter. AlphaQuest LLC now owns 66,122 shares of the company’s stock worth $486,000 after buying an additional 62,912 shares during the period. Trexquant Investment LP acquired a new position in ProPetro in the first quarter valued at $118,000. Finally, State of Wyoming acquired a new position in ProPetro in the first quarter valued at $48,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Michele Vion sold 6,916 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $10.64, for a total value of $73,586.24. Following 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 ownership of the stock. The transaction 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 firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $10.84, for a total value of $292,680.00. Following the sale, the director owned 35,831 shares of the company’s stock, valued at approximately $388,408.04. This trade represents a 42.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.60% of the company’s stock.

ProPetro Stock Up 0.5%

NYSE PUMP opened at $9.40 on Wednesday. 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 Holding Corp. has a fifty-two week low of $4.51 and a fifty-two week high of $11.66. The business has a 50 day moving average price of $9.30 and a two-hundred day moving average price of $6.83. The stock has a market cap of $977.00 million, a PE ratio of -55.27 and a beta of 0.80.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upgraded ProPetro from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $7.00 to $13.00 in a research note on Wednesday, December 10th. Barclays reissued a “neutral” rating on shares of ProPetro in a research report on Wednesday, December 17th. Piper Sandler raised 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. Zacks Research upgraded shares of ProPetro from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 23rd. Finally, Wolfe Research raised shares of ProPetro to a “buy” rating and set a $13.00 target price on the stock in a research note on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.50.

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.