Fmr LLC Acquires 19,726 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Fmr LLC raised its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 271.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,004 shares of the company’s stock after acquiring an additional 19,726 shares during the quarter. Fmr LLC’s holdings in ProPetro were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. purchased a new position in ProPetro during the second quarter valued at approximately $31,741,000. Dana Investment Advisors Inc. bought a new position in ProPetro in the 2nd quarter worth $6,439,000. American Century Companies Inc. increased its stake in ProPetro by 21.3% in the 2nd quarter. American Century Companies Inc. now owns 2,515,579 shares of the company’s stock worth $21,810,000 after buying an additional 441,644 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in ProPetro by 441.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 303,971 shares of the company’s stock valued at $2,635,000 after acquiring an additional 247,860 shares during the period. Finally, AXA S.A. boosted its stake in shares of ProPetro by 963.9% in the second quarter. AXA S.A. now owns 181,929 shares of the company’s stock worth $1,577,000 after acquiring an additional 164,829 shares during the period. Institutional investors own 84.70% of the company’s stock.

ProPetro Stock Performance

Shares of NYSE:PUMP opened at $8.74 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $899.61 million, a price-to-earnings ratio of -6.57 and a beta of 2.07. ProPetro Holding Corp. has a 12 month low of $6.53 and a 12 month high of $10.02. The firm’s 50-day moving average is $8.13 and its 200 day moving average is $8.22.

Analysts Set New Price Targets

A number of brokerages have issued reports on PUMP. Citigroup reduced their price target 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. Barclays decreased their target price on ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective on the stock in a research note on Friday, December 6th. Finally, Stifel Nicolaus decreased their price objective on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.25.

Insider Buying and Selling

In other news, CFO David Scott Schorlemer purchased 4,500 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the acquisition, the chief financial officer now owns 112,992 shares of the company’s stock, valued at approximately $775,125.12. This trade represents a 4.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by insiders.

ProPetro Company 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.