ProPetro Holding Corp. (NYSE:PUMP) Stock Holdings Lessened by State Street Corp

State Street Corp lessened its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,744,113 shares of the company’s stock after selling 146,658 shares during the period. State Street Corp’s holdings in ProPetro were worth $28,680,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of ProPetro by 84.3% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after purchasing an additional 1,473 shares during the last quarter. Quarry LP acquired a new position in ProPetro during the 2nd quarter valued at approximately $40,000. nVerses Capital LLC grew its stake in ProPetro by 226.3% during the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after buying an additional 4,300 shares during the last quarter. CWM LLC increased its position in ProPetro by 17.2% in the third quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after buying an additional 1,267 shares during the period. Finally, Chilton Capital Management LLC lifted its stake in 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 buying an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

Wall Street Analysts Forecast Growth

PUMP has been the topic of a number of analyst reports. Barclays dropped their price objective on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Citigroup dropped their price target on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus reduced their price objective on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price on the stock in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, ProPetro presently has an average rating of “Hold” and an average target price of $10.25.

Insiders Place Their Bets

In related news, CFO David Scott Schorlemer acquired 4,500 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the transaction, the chief financial officer now owns 112,992 shares of the company’s stock, valued at approximately $775,125.12. The trade was a 4.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is owned by company insiders.

ProPetro Stock Down 2.3 %

PUMP opened at $8.74 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20. The company has a market capitalization of $899.61 million, a PE ratio of -6.57 and a beta of 2.07. The stock’s fifty day moving average is $8.13 and its 200-day moving average is $8.22. ProPetro Holding Corp. has a one year low of $6.53 and a one year high of $10.02.

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.