Van ECK Associates Corp Trims Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Van ECK Associates Corp decreased its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 13.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 970,851 shares of the company’s stock after selling 149,292 shares during the period. Van ECK Associates Corp owned 0.93% of ProPetro worth $7,398,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PUMP. GAMMA Investing LLC boosted its position in shares of ProPetro by 84.3% in the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after acquiring an additional 1,473 shares during the period. Quarry LP bought a new position in shares of ProPetro in the second quarter valued at approximately $40,000. nVerses Capital LLC boosted its position in shares of ProPetro by 226.3% in the third quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock valued at $47,000 after acquiring an additional 4,300 shares during the period. CWM LLC boosted its position in shares of ProPetro by 17.2% in the third quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after acquiring an additional 1,267 shares during the period. Finally, Chilton Capital Management LLC boosted its position in shares of ProPetro by 87.1% in the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock valued at $75,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PUMP. Barclays cut their price objective on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Stifel Nicolaus cut their price objective on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Finally, Citigroup cut their price objective on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, ProPetro currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Insider Buying and Selling at ProPetro

In other ProPetro news, Director Michele Vion sold 5,000 shares of ProPetro stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $8.26, for a total transaction of $41,300.00. Following the completion of the sale, the director now directly owns 34,006 shares in the company, valued at $280,889.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ProPetro news, Director Michele Vion sold 5,000 shares of ProPetro stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $8.26, for a total transaction of $41,300.00. Following the transaction, the director now directly owns 34,006 shares of the company’s stock, valued at approximately $280,889.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Scott Schorlemer purchased 4,500 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the purchase, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at approximately $775,125.12. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.88% of the stock is currently owned by company insiders.

ProPetro Trading Down 5.5 %

Shares of ProPetro stock opened at $7.97 on Friday. ProPetro Holding Corp. has a 1 year low of $6.53 and a 1 year high of $10.02. The firm has a market cap of $819.84 million, a PE ratio of -5.99 and a beta of 2.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14. The company has a 50 day simple moving average of $7.76 and a two-hundred day simple moving average of $8.42.

About ProPetro

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.