Quantbot Technologies LP Takes $444,000 Position in ProPetro Holding Corp. (NYSE:PUMP)

Quantbot Technologies LP acquired a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP) during the third quarter, according to its most recent filing with the SEC. The fund acquired 57,981 shares of the company’s stock, valued at approximately $444,000.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of ProPetro by 84.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after purchasing an additional 1,473 shares in the last quarter. Quarry LP bought a new position in ProPetro in the 2nd quarter worth about $40,000. nVerses Capital LLC raised its holdings in shares of ProPetro by 226.3% in the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock valued at $47,000 after acquiring an additional 4,300 shares in the last quarter. CWM LLC boosted its position in shares of ProPetro by 17.2% during the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after acquiring an additional 1,267 shares during the last quarter. Finally, Chilton Capital Management LLC grew its holdings in shares of ProPetro by 87.1% during the second 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 in the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PUMP shares. 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 research note on Friday, October 11th. Citigroup dropped their price objective 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 reduced their target price on ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Insider Activity at ProPetro

In related news, CFO David Scott Schorlemer acquired 4,500 shares of ProPetro stock in a transaction dated Monday, November 4th. The shares were purchased at an average cost of $6.86 per share, with a total value of $30,870.00. Following the completion of the purchase, the chief financial officer now owns 112,992 shares of the company’s stock, valued at $775,125.12. This represents a 4.15 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is owned by insiders.

ProPetro Trading Down 2.4 %

PUMP stock opened at $8.52 on Wednesday. The company has a market capitalization of $876.96 million, a PE ratio of -6.41 and a beta of 2.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20. ProPetro Holding Corp. has a one year low of $6.53 and a one year high of $10.02. The company’s 50 day moving average price is $7.93 and its two-hundred day moving average price is $8.28.

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.