Quantinno Capital Management LP Acquires New Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Quantinno Capital Management LP bought a new position in ProPetro Holding Corp. (NYSE:PUMP) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 17,533 shares of the company’s stock, valued at approximately $134,000.

Several other large investors have also recently bought and sold shares of PUMP. Point72 Asset Management L.P. bought a new stake in shares of ProPetro during the 3rd quarter valued at about $3,525,000. Hotchkis & Wiley Capital Management LLC raised its stake in ProPetro by 2.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,088,880 shares of the company’s stock valued at $8,341,000 after purchasing an additional 28,660 shares in the last quarter. HighTower Advisors LLC bought a new stake in ProPetro during the third quarter valued at approximately $197,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in ProPetro in the 3rd quarter worth approximately $77,000. Finally, Verition Fund Management LLC increased its holdings in shares of ProPetro by 147.1% in the 3rd quarter. Verition Fund Management LLC now owns 71,909 shares of the company’s stock worth $551,000 after buying an additional 42,804 shares during the last quarter. 84.70% of the stock is owned by institutional investors.

Insider Buying and Selling at ProPetro

In other ProPetro news, CFO David Scott Schorlemer bought 4,500 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were bought 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 directly owns 112,992 shares of the company’s stock, valued at $775,125.12. This trade represents a 4.15 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.97% of the company’s stock.

ProPetro Stock Up 2.0 %

PUMP opened at $9.32 on Wednesday. ProPetro Holding Corp. has a 12 month low of $6.53 and a 12 month high of $10.02. 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 business’s 50-day moving average price is $8.07 and its 200-day moving average price is $8.22. The company has a market cap of $958.79 million, a P/E ratio of -7.00 and a beta of 2.07.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Citigroup cut their price objective on ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. 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. Finally, JPMorgan Chase & Co. raised ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price for the company in a research note on Friday, December 6th. Three equities research 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.com, the stock has an average rating of “Hold” and an average price target of $10.25.

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.