AXQ Capital LP Purchases Shares of 16,198 ProPetro Holding Corp. (NYSE:PUMP)

AXQ Capital LP acquired a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,198 shares of the company’s stock, valued at approximately $151,000.

Several other institutional investors also recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its stake in ProPetro by 205.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock worth $28,000 after buying an additional 2,005 shares in the last quarter. GAMMA Investing LLC increased its stake in ProPetro by 38.0% in the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock valued at $41,000 after acquiring an additional 1,225 shares during the last quarter. KBC Group NV raised its position in ProPetro by 90.5% during 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in ProPetro during the third quarter worth about $77,000. Finally, Raymond James Financial Inc. purchased a new position in shares of ProPetro in the 4th quarter worth about $94,000. 84.70% of the stock is currently owned by institutional investors.

ProPetro Trading Up 5.2 %

Shares of PUMP opened at $7.60 on Tuesday. The stock has a market capitalization of $783.57 million, a P/E ratio of -5.67 and a beta of 2.03. ProPetro Holding Corp. has a twelve month low of $6.54 and a twelve month high of $11.17. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $8.68 and a two-hundred day simple moving average of $8.44.

Analyst Upgrades and Downgrades

PUMP has been the topic of a number of research reports. Barclays decreased their price objective on ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Stifel Nicolaus boosted their price objective on shares of ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Citigroup increased 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. Benchmark restated a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective on the stock in a 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.75.

ProPetro Company 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.