Jane Street Group LLC Trims Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Jane Street Group LLC reduced its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 60.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 199,195 shares of the company’s stock after selling 299,161 shares during the period. Jane Street Group LLC owned approximately 0.19% of ProPetro worth $1,526,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PUMP. GAMMA Investing LLC lifted its stake in shares of ProPetro by 84.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after acquiring an additional 1,473 shares during the period. Quarry LP purchased a new position in ProPetro during the second quarter worth about $40,000. nVerses Capital LLC lifted its position in ProPetro by 226.3% in the third quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock valued at $47,000 after purchasing an additional 4,300 shares during the period. CWM LLC boosted its holdings in ProPetro by 17.2% in the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after purchasing an additional 1,267 shares in the last quarter. Finally, Chilton Capital Management LLC increased its position in ProPetro by 87.1% during the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after purchasing an additional 4,000 shares during the period. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price on the stock in a research report on Friday, December 6th. Stifel Nicolaus decreased their price objective 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 dropped their target price on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Barclays decreased their price target on ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.25.

Insider Activity

In related news, CFO David Scott Schorlemer purchased 4,500 shares of ProPetro stock in a transaction dated Monday, November 4th. The shares were acquired at an average price of $6.86 per share, with a total value of $30,870.00. Following the completion of the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.97% of the company’s stock.

ProPetro Price Performance

PUMP opened at $9.03 on Friday. The company has a 50 day moving average of $8.18 and a two-hundred day moving average of $8.22. ProPetro Holding Corp. has a 52-week low of $6.53 and a 52-week high of $10.02. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. The company has a market cap of $929.46 million, a P/E ratio of -6.79 and a beta of 2.07.

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.