ProPetro Holding Corp. (NYSE:PUMP) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lowered its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 79.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,210 shares of the company’s stock after selling 12,192 shares during the quarter. AlphaQuest LLC’s holdings in ProPetro were worth $30,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Pacer Advisors Inc. grew its position in shares of ProPetro by 95.4% in the third quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock valued at $54,790,000 after purchasing an additional 3,491,723 shares in the last quarter. Van ECK Associates Corp grew its position in shares of ProPetro by 57.3% in the fourth quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company’s stock valued at $14,253,000 after purchasing an additional 556,747 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of 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. Dana Investment Advisors Inc. grew its position in shares of ProPetro by 6.3% in the fourth quarter. Dana Investment Advisors Inc. now owns 796,775 shares of the company’s stock valued at $7,434,000 after purchasing an additional 47,194 shares in the last quarter. Finally, Empowered Funds LLC grew its position in ProPetro by 5.1% in the fourth quarter. Empowered Funds LLC now owns 554,873 shares of the company’s stock worth $5,177,000 after acquiring an additional 27,086 shares during the period. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on PUMP. Stifel Nicolaus increased their price objective on ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Citigroup increased their price objective on ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Benchmark reiterated a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective for the company in a research report on Friday, December 6th. Finally, Barclays lowered their price objective on ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, ProPetro presently has a consensus rating of “Hold” and an average target price of $10.75.

ProPetro Trading Down 0.8 %

PUMP opened at $7.24 on Friday. ProPetro Holding Corp. has a 52 week low of $6.54 and a 52 week high of $11.17. The business has a fifty day simple moving average of $8.74 and a 200-day simple moving average of $8.43. The firm has a market cap of $746.43 million, a P/E ratio of -5.40 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.

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.