State of Alaska Department of Revenue Lowers Stake in ProPetro Holding Corp. (NYSE:PUMP)

State of Alaska Department of Revenue lessened its position in ProPetro Holding Corp. (NYSE:PUMP) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,770 shares of the company’s stock after selling 2,621 shares during the period. State of Alaska Department of Revenue’s holdings in ProPetro were worth $350,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PUMP. GAMMA Investing LLC raised its holdings in ProPetro by 84.3% in the 3rd 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 last quarter. Quarry LP acquired a new position in ProPetro in the second quarter valued at $40,000. nVerses Capital LLC increased its stake in 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 purchasing an additional 4,300 shares during the last quarter. Chilton Capital Management LLC lifted its position in ProPetro by 87.1% during the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after buying an additional 4,000 shares during the period. Finally, CWM LLC boosted its stake in ProPetro by 17.2% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insider Buying and Selling at ProPetro

In related news, Director Michele Vion sold 5,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $280,889.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO David Scott Schorlemer acquired 4,500 shares of the stock in a transaction on Monday, November 4th. The stock was bought at an average price of $6.86 per share, with a total value of $30,870.00. Following the completion of the transaction, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at $775,125.12. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michele Vion sold 5,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was 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 in the company, valued at approximately $280,889.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PUMP has been the subject of a number of research analyst reports. Barclays dropped their price objective 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. Stifel Nicolaus cut their price target on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, Citigroup lowered their price objective 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. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

ProPetro Stock Performance

NYSE PUMP opened at $7.70 on Friday. The business’s 50-day simple moving average is $7.76 and its 200-day simple moving average is $8.41. The firm has a market capitalization of $792.56 million, a P/E ratio of -5.79 and a beta of 2.04. ProPetro Holding Corp. has a 1-year low of $6.53 and a 1-year high of $10.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14.

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.