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

Proficio Capital Partners LLC acquired a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 18,809 shares of the company’s stock, valued at approximately $175,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in ProPetro by 16.8% in the third quarter. Victory Capital Management Inc. now owns 130,740 shares of the company’s stock valued at $1,001,000 after buying an additional 18,836 shares during the last quarter. Intech Investment Management LLC grew its position in shares of ProPetro by 38.9% in the 3rd quarter. Intech Investment Management LLC now owns 42,057 shares of the company’s stock worth $322,000 after acquiring an additional 11,774 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of ProPetro in the 3rd quarter valued at approximately $444,000. FMR LLC raised its position in shares of ProPetro by 271.0% during the 3rd quarter. FMR LLC now owns 27,004 shares of the company’s stock valued at $207,000 after acquiring an additional 19,726 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in ProPetro by 248.5% during the third quarter. BNP Paribas Financial Markets now owns 108,660 shares of the company’s stock worth $832,000 after purchasing an additional 77,477 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Price Performance

NYSE PUMP opened at $7.60 on Friday. The stock has a market capitalization of $783.57 million, a PE ratio of -5.67 and a beta of 2.03. The company has a 50 day moving average price of $8.50 and a two-hundred day moving average price of $8.43. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. ProPetro Holding Corp. has a 12-month low of $6.54 and a 12-month high of $11.17.

Analysts Set New Price Targets

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

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.