ProPetro Holding Corp. (NYSE:PUMP) Stock Holdings Trimmed by Geode Capital Management LLC

Geode Capital Management LLC lessened its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 2.3% in the third quarter, HoldingsChannel.com reports. The firm owned 1,930,216 shares of the company’s stock after selling 44,821 shares during the period. Geode Capital Management LLC’s holdings in ProPetro were worth $14,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in ProPetro by 109.2% in the third quarter. Barclays PLC now owns 242,057 shares of the company’s stock valued at $1,855,000 after buying an additional 126,346 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of ProPetro in the 3rd quarter worth $3,525,000. Pacer Advisors Inc. raised its position in ProPetro by 95.4% in the third quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock worth $54,790,000 after acquiring an additional 3,491,723 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in ProPetro in the 3rd quarter valued at about $1,013,000. Finally, Creative Planning increased its holdings in shares of ProPetro by 80.0% in the third quarter. Creative Planning now owns 57,238 shares of the company’s stock valued at $438,000 after buying an additional 25,445 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

Insider Activity at ProPetro

In related news, CFO David Scott Schorlemer purchased 4,500 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average price 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 in the company, valued at $775,125.12. This trade represents a 4.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

ProPetro Stock Performance

Shares of PUMP stock opened at $9.04 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14. The company has a fifty day moving average price of $8.23 and a two-hundred day moving average price of $8.21. The stock has a market cap of $930.49 million, a P/E ratio of -6.80 and a beta of 2.07. ProPetro Holding Corp. has a one year low of $6.53 and a one year high of $10.02.

Analysts Set New Price Targets

PUMP has been the topic of several analyst reports. Citigroup dropped their target price on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Barclays dropped their target price on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Stifel Nicolaus cut their target price on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Finally, 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.25.

About ProPetro

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.