Victory Capital Management Inc. Buys 18,836 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Victory Capital Management Inc. increased its stake in ProPetro Holding Corp. (NYSE:PUMP) by 16.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 130,740 shares of the company’s stock after purchasing an additional 18,836 shares during the quarter. Victory Capital Management Inc. owned approximately 0.13% of ProPetro worth $1,001,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in ProPetro by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,095,253 shares of the company’s stock valued at $61,515,000 after acquiring an additional 54,555 shares during the period. Pacer Advisors Inc. bought a new stake in ProPetro during the 2nd quarter valued at $31,741,000. American Century Companies Inc. raised its holdings in ProPetro by 21.3% during the 2nd quarter. American Century Companies Inc. now owns 2,515,579 shares of the company’s stock valued at $21,810,000 after acquiring an additional 441,644 shares during the period. Encompass Capital Advisors LLC raised its holdings in ProPetro by 2.4% during the 2nd quarter. Encompass Capital Advisors LLC now owns 1,526,485 shares of the company’s stock valued at $13,235,000 after acquiring an additional 36,339 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in ProPetro by 1.8% during the 2nd 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 during the period. Institutional investors own 84.70% of the company’s stock.

ProPetro Stock Up 0.8 %

Shares of NYSE:PUMP opened at $8.48 on Thursday. ProPetro Holding Corp. has a 52-week low of $6.53 and a 52-week high of $10.02. The firm has a fifty day moving average of $7.90 and a 200 day moving average of $8.31. The firm has a market capitalization of $872.85 million, a PE ratio of -6.32 and a beta of 2.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

PUMP has been the topic of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Citigroup lowered their target price 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. Finally, Barclays decreased their price target 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. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, ProPetro currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

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.