ProPetro Holding Corp. (NYSE:PUMP) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 19.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 555,457 shares of the company’s stock after selling 131,234 shares during the period. Bank of New York Mellon Corp owned about 0.54% of ProPetro worth $5,182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PUMP. GAMMA Investing LLC increased its holdings 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 buying an additional 1,225 shares during the last quarter. KBC Group NV grew its position in shares of ProPetro by 90.5% in the 4th quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after acquiring an additional 3,821 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of ProPetro in the 3rd quarter worth approximately $77,000. Ieq Capital LLC increased 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 during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in shares of ProPetro during the 3rd quarter valued at approximately $134,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on PUMP. JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective for the company in a report on Friday, December 6th. Stifel Nicolaus boosted their price objective on shares of ProPetro from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Benchmark reiterated a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. Citigroup lifted 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, Barclays dropped their price target on ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.75.

ProPetro Stock Down 0.8 %

PUMP opened at $6.83 on Tuesday. The stock’s fifty day moving average is $8.97 and its 200-day moving average is $8.46. ProPetro Holding Corp. has a one year low of $6.54 and a one year high of $11.17. The company has a market capitalization of $704.13 million, a PE ratio of -5.09 and a beta of 2.03. 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 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.