ProPetro Holding Corp. (NYSE:PUMP) Position Trimmed by Inspire Investing LLC

Inspire Investing LLC lessened its position in ProPetro Holding Corp. (NYSE:PUMP) by 21.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,114 shares of the company’s stock after selling 11,504 shares during the quarter. Inspire Investing LLC’s holdings in ProPetro were worth $393,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Barclays PLC lifted its position in shares of ProPetro by 109.2% in the 3rd quarter. Barclays PLC now owns 242,057 shares of the company’s stock valued at $1,855,000 after acquiring an additional 126,346 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in ProPetro by 209.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 272,374 shares of the company’s stock worth $2,115,000 after buying an additional 184,273 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in ProPetro in the 3rd quarter worth approximately $3,525,000. Pacer Advisors Inc. lifted its position in ProPetro by 95.4% in the 3rd quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock worth $54,790,000 after buying an additional 3,491,723 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in ProPetro in the 3rd quarter worth approximately $1,013,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PUMP shares. Stifel Nicolaus lowered their target price 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. Barclays decreased their price target on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Citigroup raised their price target on shares of ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upgraded shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.75.

Insiders Place Their Bets

In related news, CFO David Scott Schorlemer acquired 4,500 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were bought at an average cost 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. This trade represents a 4.15 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

ProPetro Stock Performance

Shares of PUMP stock opened at $9.43 on Wednesday. The company’s fifty day simple moving average is $9.36 and its 200-day simple moving average is $8.49. 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 firm has a market cap of $970.12 million, a PE ratio of -7.09 and a beta of 2.00. ProPetro Holding Corp. has a 12 month low of $6.53 and a 12 month high of $11.17.

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.