HighTower Advisors LLC Makes New Investment in ProPetro Holding Corp. (NYSE:PUMP)

HighTower Advisors LLC purchased a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 25,965 shares of the company’s stock, valued at approximately $197,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PUMP. Pacer Advisors Inc. lifted its stake in ProPetro by 95.4% during the 3rd quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock worth $54,790,000 after acquiring an additional 3,491,723 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in ProPetro by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,095,253 shares of the company’s stock valued at $61,515,000 after buying an additional 54,555 shares during the period. American Century Companies Inc. grew its stake in shares of ProPetro by 21.3% in the second quarter. American Century Companies Inc. now owns 2,515,579 shares of the company’s stock worth $21,810,000 after acquiring an additional 441,644 shares in the last quarter. Encompass Capital Advisors LLC increased its position in shares of ProPetro by 2.4% during the second quarter. Encompass Capital Advisors LLC now owns 1,526,485 shares of the company’s stock worth $13,235,000 after acquiring an additional 36,339 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of ProPetro by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 780,498 shares of the company’s stock valued at $6,767,000 after acquiring an additional 14,144 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ProPetro

In other ProPetro news, CFO David Scott Schorlemer acquired 4,500 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $6.86 per share, with a total value of $30,870.00. Following the completion of the acquisition, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at approximately $775,125.12. The trade was a 4.15 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target on the stock in a research report on Friday, December 6th. 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. Stifel Nicolaus lowered their price target 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. Finally, Citigroup reduced their price objective on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.25.

ProPetro Trading Up 0.9 %

Shares of ProPetro stock opened at $9.00 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20. The company has a market capitalization of $926.37 million, a P/E ratio of -6.77 and a beta of 2.07. ProPetro Holding Corp. has a 1 year low of $6.53 and a 1 year high of $10.02. The company’s fifty day moving average is $8.16 and its two-hundred day moving average is $8.22.

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.