Victory Capital Management Inc. Purchases 18,836 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Victory Capital Management Inc. grew its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 16.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,740 shares of the company’s stock after acquiring an additional 18,836 shares during the period. Victory Capital Management Inc.’s holdings in ProPetro were worth $1,001,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of ProPetro during the third quarter valued at about $403,000. Entropy Technologies LP raised its stake in shares of ProPetro by 125.7% during the third quarter. Entropy Technologies LP now owns 52,619 shares of the company’s stock valued at $403,000 after acquiring an additional 29,305 shares during the last quarter. Stanley Laman Group Ltd. raised its stake in shares of ProPetro by 8.1% during the third quarter. Stanley Laman Group Ltd. now owns 446,234 shares of the company’s stock valued at $3,418,000 after acquiring an additional 33,482 shares during the last quarter. nVerses Capital LLC raised its stake in shares of ProPetro by 226.3% during 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 last quarter. Finally, Creative Planning raised its stake in shares of ProPetro by 80.0% during the third quarter. Creative Planning now owns 57,238 shares of the company’s stock valued at $438,000 after acquiring an additional 25,445 shares during the last quarter. 84.70% of the stock is owned by institutional investors.

Insider Buying and Selling at ProPetro

In other ProPetro news, CFO David Scott Schorlemer bought 4,500 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $6.86 per share, with a total value of $30,870.00. Following the completion of the purchase, the chief financial officer now owns 112,992 shares of the company’s stock, valued at approximately $775,125.12. This trade represents a 4.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

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

ProPetro Price Performance

PUMP stock opened at $8.48 on Thursday. ProPetro Holding Corp. has a 1 year low of $6.53 and a 1 year high of $10.02. The firm has a 50-day moving average of $7.90 and a 200 day moving average of $8.31. The company has a market cap of $872.85 million, a P/E ratio of -6.32 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.

ProPetro Profile

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.