Mutual of America Capital Management LLC Lowers Stake in ProPetro Holding Corp. (NYSE:PUMP)

Mutual of America Capital Management LLC lessened its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,164 shares of the company’s stock after selling 1,483 shares during the period. Mutual of America Capital Management LLC’s holdings in ProPetro were worth $93,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of PUMP. CWM LLC lifted its holdings in 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 purchasing an additional 1,267 shares in the last quarter. GAMMA Investing LLC lifted its stake in ProPetro by 84.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after buying an additional 1,473 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in ProPetro by 1.8% in the 2nd quarter. Victory Capital Management Inc. now owns 111,904 shares of the company’s stock worth $970,000 after buying an additional 1,990 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in ProPetro by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,392 shares of the company’s stock worth $324,000 after buying an additional 2,257 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of ProPetro by 8.9% during the second quarter. Federated Hermes Inc. now owns 29,912 shares of the company’s stock valued at $259,000 after acquiring an additional 2,446 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

Insider Buying and Selling

In other ProPetro news, CFO David Scott Schorlemer purchased 4,500 shares of the company’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the purchase, the chief financial officer now directly owns 112,992 shares in the company, valued at approximately $775,125.12. The trade was a 4.15 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is owned by corporate insiders.

ProPetro Price Performance

Shares of PUMP opened at $8.40 on Friday. The firm has a 50-day simple moving average of $7.92 and a two-hundred day simple moving average of $8.31. 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 1-year low of $6.53 and a 1-year high of $10.02. The stock has a market cap of $864.10 million, a PE ratio of -6.31 and a beta of 2.04.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PUMP shares. Stifel Nicolaus dropped their target price on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, October 11th. Citigroup dropped their price objective on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Barclays cut their price objective on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

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.