Stanley Laman Group Ltd. Boosts Stock Position in ProPetro Holding Corp. (NYSE:PUMP)

Stanley Laman Group Ltd. raised its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 458,425 shares of the company’s stock after buying an additional 12,191 shares during the period. Stanley Laman Group Ltd.’s holdings in ProPetro were worth $4,277,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in ProPetro by 84.3% in the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after purchasing an additional 1,473 shares during the period. nVerses Capital LLC boosted its holdings 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 period. CWM LLC boosted its holdings in ProPetro by 17.2% in the third quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after purchasing an additional 1,267 shares during the period. KBC Group NV boosted its holdings in ProPetro by 90.5% in the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock valued at $75,000 after purchasing an additional 3,821 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in ProPetro in the third quarter valued at $77,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Trading Down 2.5 %

Shares of NYSE:PUMP opened at $8.81 on Thursday. The business’s 50 day simple moving average is $9.49 and its 200-day simple moving average is $8.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14. ProPetro Holding Corp. has a 12 month low of $6.53 and a 12 month high of $11.17.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PUMP. Barclays cut their price target on ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target on the stock in a research note on Friday, December 6th. Finally, Citigroup raised their price target on ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.75.

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.