ProPetro Holding Corp. (NYSE:PUMP) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 51.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,099 shares of the company’s stock after selling 72,279 shares during the quarter. Jennison Associates LLC owned about 0.07% of ProPetro worth $635,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. lifted its position in shares of ProPetro by 95.4% during the third quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock worth $54,790,000 after purchasing an additional 3,491,723 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of ProPetro by 2.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,088,880 shares of the company’s stock worth $8,341,000 after purchasing an additional 28,660 shares in the last quarter. Royce & Associates LP lifted its position in shares of ProPetro by 21.1% during the third quarter. Royce & Associates LP now owns 718,827 shares of the company’s stock worth $5,506,000 after purchasing an additional 125,232 shares in the last quarter. Empowered Funds LLC lifted its position in shares of ProPetro by 5.3% during the third quarter. Empowered Funds LLC now owns 527,787 shares of the company’s stock worth $4,043,000 after purchasing an additional 26,800 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in ProPetro in the third quarter valued at approximately $3,525,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup raised their target price on shares of ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Stifel Nicolaus reduced their target price on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Barclays reduced their target price 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. Finally, JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price on the stock in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.75.

ProPetro Stock Performance

Shares of ProPetro stock opened at $8.59 on Friday. The firm has a market capitalization of $883.65 million, a P/E ratio of -6.45 and a beta of 1.98. ProPetro Holding Corp. has a 52 week low of $6.53 and a 52 week high of $11.17. 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’s 50 day moving average is $9.46 and its two-hundred day moving average is $8.51.

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.