Victory Capital Management Inc. Sells 1,840 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Victory Capital Management Inc. lowered its stake in ProPetro Holding Corp. (NYSE:PUMP) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 128,900 shares of the company’s stock after selling 1,840 shares during the period. Victory Capital Management Inc.’s holdings in ProPetro were worth $1,203,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its holdings in ProPetro by 205.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock valued at $28,000 after buying an additional 2,005 shares during the period. GAMMA Investing LLC boosted its holdings in ProPetro by 38.0% during the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after purchasing an additional 1,225 shares during the last quarter. KBC Group NV boosted its holdings in ProPetro by 90.5% during the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after purchasing an additional 3,821 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in ProPetro during the third quarter worth about $77,000. Finally, Ieq Capital LLC boosted its stake in ProPetro by 13.0% in the fourth quarter. Ieq Capital LLC now owns 13,604 shares of the company’s stock valued at $127,000 after acquiring an additional 1,564 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Stock Performance

Shares of PUMP stock opened at $7.19 on Thursday. The company has a 50 day moving average price of $8.85 and a 200-day moving average price of $8.44. ProPetro Holding Corp. has a 52 week low of $6.54 and a 52 week high of $11.17. The firm has a market capitalization of $741.27 million, a PE ratio of -5.36 and a beta of 2.03. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06.

Analyst Ratings Changes

PUMP has been the topic of a number of recent research reports. Barclays dropped their price target on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Stifel Nicolaus increased their price target on shares of ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price on the stock in a report on Friday, December 6th. Citigroup increased their target price on shares of ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Benchmark reissued a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.75.

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.