Jennison Associates LLC Purchases 45,173 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Jennison Associates LLC boosted its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 47.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 140,378 shares of the company’s stock after purchasing an additional 45,173 shares during the period. Jennison Associates LLC owned about 0.14% of ProPetro worth $1,075,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PUMP. GAMMA Investing LLC lifted its position in shares of ProPetro by 84.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after buying an additional 1,473 shares during the last quarter. Quarry LP acquired a new position in ProPetro during the second quarter worth about $40,000. nVerses Capital LLC lifted its holdings in shares of ProPetro by 226.3% in the third quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after acquiring an additional 4,300 shares during the last quarter. CWM LLC boosted its stake in shares of ProPetro by 17.2% in the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after purchasing an additional 1,267 shares in the last quarter. Finally, Chilton Capital Management LLC boosted its stake in shares of ProPetro by 87.1% in the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock valued at $75,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

Insider Activity

In other ProPetro news, Director Michele Vion sold 5,000 shares of the 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 owns 34,006 shares of the company’s stock, valued at approximately $280,889.56. This represents a 12.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Scott Schorlemer purchased 4,500 shares of the stock in a transaction on Monday, November 4th. The shares were purchased at an average price of $6.86 per share, with a total value of $30,870.00. Following the acquisition, the chief financial officer now owns 112,992 shares in the company, valued at approximately $775,125.12. The trade was a 4.15 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

PUMP has been the subject of several research reports. Citigroup dropped 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. Barclays lowered their price target on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Stifel Nicolaus cut their price objective on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.33.

ProPetro Stock Up 3.4 %

NYSE:PUMP opened at $8.50 on Friday. ProPetro Holding Corp. has a one year low of $6.53 and a one 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. The company has a market cap of $874.91 million, a PE ratio of -6.39 and a beta of 2.04. The firm’s 50 day simple moving average is $7.87 and its 200 day simple moving average is $8.34.

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.