Proficio Capital Partners LLC Acquires New Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Proficio Capital Partners LLC bought a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 18,809 shares of the company’s stock, valued at approximately $175,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of ProPetro by 38.0% in the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after purchasing an additional 1,225 shares during the period. KBC Group NV grew its position in ProPetro by 90.5% during the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after buying an additional 3,821 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in ProPetro in the 3rd quarter worth about $77,000. Ieq Capital LLC raised its holdings in shares of ProPetro by 13.0% in the 4th quarter. Ieq Capital LLC now owns 13,604 shares of the company’s stock valued at $127,000 after acquiring an additional 1,564 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in shares of ProPetro during the 3rd quarter valued at about $134,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Benchmark reissued a “hold” rating on shares of ProPetro in a report on Thursday, February 20th. Barclays dropped their price objective on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Citigroup increased their target price on ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. raised ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target for the company in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, ProPetro has a consensus rating of “Hold” and an average price target of $10.75.

ProPetro Price Performance

Shares of ProPetro stock opened at $6.96 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.31. ProPetro Holding Corp. has a 52-week low of $6.53 and a 52-week high of $11.17. The company has a fifty day moving average of $9.16 and a 200-day moving average of $8.48. The stock has a market capitalization of $717.95 million, a price-to-earnings ratio of -5.19 and a beta of 2.03.

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.