Weiss Asset Management LP Buys Shares of 299,216 ProPetro Holding Corp. (NYSE:PUMP)

Weiss Asset Management LP bought a new position in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 299,216 shares of the company's stock, valued at approximately $2,292,000. Weiss Asset Management LP owned approximately 0.29% of ProPetro as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new position in ProPetro during the second quarter worth $31,741,000. Dana Investment Advisors Inc. acquired a new stake in shares of ProPetro during the second quarter valued at $6,439,000. Point72 Asset Management L.P. purchased a new stake in ProPetro during the 3rd quarter worth about $3,525,000. American Century Companies Inc. raised its stake in ProPetro by 21.3% in the 2nd quarter. American Century Companies Inc. now owns 2,515,579 shares of the company's stock valued at $21,810,000 after purchasing an additional 441,644 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its holdings in ProPetro by 441.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 303,971 shares of the company's stock valued at $2,635,000 after purchasing an additional 247,860 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

ProPetro Trading Down 4.0 %

PUMP stock traded down $0.33 on Friday, hitting $7.91. 1,487,189 shares of the company were exchanged, compared to its average volume of 1,092,209. The business's fifty day moving average is $7.96 and its two-hundred day moving average is $8.25. ProPetro Holding Corp. has a twelve month low of $6.53 and a twelve month high of $10.02. The stock has a market capitalization of $814.18 million, a price-to-earnings ratio of -5.95 and a beta of 2.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14.

Wall Street Analyst Weigh In

PUMP has been the subject of a number of recent research reports. Citigroup lowered their price target on shares of ProPetro from $8.50 to $8.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. raised shares of 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. Stifel Nicolaus reduced their price target on ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Friday, October 11th. Finally, Barclays decreased their price objective on ProPetro from $13.00 to $12.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $10.25.

Insider Transactions at ProPetro

In related news, CFO David Scott Schorlemer bought 4,500 shares of ProPetro stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $6.86 per share, with a total value of $30,870.00. Following the completion of the acquisition, the chief financial officer now directly owns 112,992 shares in the company, valued at approximately $775,125.12. This trade represents a 4.15 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.88% of the company's stock.

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.