KLP Kapitalforvaltning AS Takes $347,000 Position in ProPetro Holding Corp. (NYSE:PUMP)

KLP Kapitalforvaltning AS acquired a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 37,200 shares of the company’s stock, valued at approximately $347,000.

Several other large investors have also bought and sold shares of PUMP. Van ECK Associates Corp boosted its holdings in shares of ProPetro by 57.3% during the 4th quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company’s stock valued at $14,253,000 after acquiring an additional 556,747 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of ProPetro in the 3rd quarter valued at about $3,525,000. Weiss Asset Management LP acquired a new stake in shares of ProPetro in the third quarter valued at about $2,292,000. American Century Companies Inc. lifted its stake in shares of ProPetro by 8.8% in the fourth quarter. American Century Companies Inc. now owns 3,236,135 shares of the company’s stock worth $30,193,000 after acquiring an additional 262,202 shares during the period. Finally, Royce & Associates LP boosted its holdings in ProPetro by 29.5% in the fourth quarter. Royce & Associates LP now owns 931,139 shares of the company’s stock valued at $8,688,000 after acquiring an additional 212,312 shares during the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Price Performance

Shares of NYSE:PUMP opened at $5.26 on Friday. ProPetro Holding Corp. has a fifty-two week low of $5.13 and a fifty-two week high of $11.17. The company’s 50-day moving average is $8.02 and its 200 day moving average is $8.42. The company has a market capitalization of $542.15 million, a P/E ratio of -3.92 and a beta of 1.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.31.

Analyst Ratings Changes

PUMP has been the subject of several analyst reports. Barclays lowered their price target 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 boosted their price target on shares of ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Benchmark reissued a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. Finally, Stifel Nicolaus upped their target price on shares of ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ProPetro presently has a consensus rating of “Hold” and an average target price 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.