ProPetro Holding Corp. (NYSE:PUMP) Shares Purchased by Fmr LLC

Fmr LLC boosted its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 271.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm 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 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in ProPetro by 95.4% in the 3rd quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock worth $54,790,000 after buying an additional 3,491,723 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of ProPetro by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,095,253 shares of the company’s stock worth $61,515,000 after acquiring an additional 54,555 shares during the period. American Century Companies Inc. raised its holdings in shares of ProPetro by 21.3% during the second quarter. American Century Companies Inc. now owns 2,515,579 shares of the company’s stock worth $21,810,000 after purchasing an additional 441,644 shares during the last quarter. Encompass Capital Advisors LLC lifted its position in ProPetro by 2.4% during the second quarter. Encompass Capital Advisors LLC now owns 1,526,485 shares of the company’s stock valued at $13,235,000 after purchasing an additional 36,339 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in ProPetro by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 780,498 shares of the company’s stock valued at $6,767,000 after purchasing an additional 14,144 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

ProPetro Stock Performance

Shares of PUMP stock opened at $8.74 on Friday. The firm has a 50 day moving average of $8.13 and a two-hundred day moving average of $8.22. The stock has a market capitalization of $899.61 million, a PE ratio of -6.57 and a beta of 2.07. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. ProPetro Holding Corp. has a 52 week low of $6.53 and a 52 week high of $10.02.

Insider Transactions at ProPetro

In other news, CFO David Scott Schorlemer acquired 4,500 shares of ProPetro stock in a transaction on Monday, November 4th. The stock was bought at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the purchase, the chief financial officer now owns 112,992 shares in the company, valued at $775,125.12. This represents a 4.15 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PUMP. Citigroup reduced their price target on ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus cut their target price on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, October 11th. JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target on the stock in a report on Friday, December 6th. Finally, Barclays cut 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. 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, ProPetro presently has an average rating of “Hold” and a consensus target price of $10.25.

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.