UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Position in ProPetro Holding Corp. (NYSE:PUMP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 196,125 shares of the company’s stock after selling 4,985 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.19% of ProPetro worth $1,502,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in ProPetro by 84.3% in the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after acquiring an additional 1,473 shares during the period. Quarry LP purchased a new stake in shares of ProPetro during the second quarter valued at about $40,000. nVerses Capital LLC lifted its position 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 buying an additional 4,300 shares during the last quarter. Chilton Capital Management LLC lifted its position in shares of ProPetro by 87.1% during 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. Finally, CWM LLC lifted its position in shares of ProPetro by 17.2% during the third quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after buying an additional 1,267 shares during the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Stock Performance

PUMP opened at $9.11 on Tuesday. ProPetro Holding Corp. has a 52-week low of $6.53 and a 52-week high of $10.02. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. The company has a market cap of $937.69 million, a P/E ratio of -6.85 and a beta of 2.07. The firm’s 50-day moving average price is $8.06 and its 200-day moving average price is $8.22.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. 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 report on Wednesday, October 16th. 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 report on Thursday, October 31st. JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target for the company in a research report on Friday, December 6th. 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 report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, ProPetro presently has a consensus rating of “Hold” and an average target price of $10.25.

Insider Buying and Selling

In other ProPetro news, CFO David Scott Schorlemer bought 4,500 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were purchased 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 directly owns 112,992 shares of the company’s stock, valued at approximately $775,125.12. This represents a 4.15 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.

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.