B. Riley Wealth Advisors Inc. Purchases 184,273 Shares of ProPetro Holding Corp. (NYSE:PUMP)

B. Riley Wealth Advisors Inc. boosted its holdings in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 209.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,374 shares of the company's stock after purchasing an additional 184,273 shares during the period. B. Riley Wealth Advisors Inc. owned about 0.26% of ProPetro worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PUMP. GAMMA Investing LLC raised its position in shares of ProPetro by 84.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company's stock valued at $25,000 after buying an additional 1,473 shares in the last quarter. Quarry LP bought a new position in ProPetro in the 2nd quarter valued at approximately $40,000. nVerses Capital LLC boosted its position in ProPetro by 226.3% during the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company's stock worth $47,000 after buying an additional 4,300 shares during the period. CWM LLC increased its position in ProPetro by 17.2% in the 3rd quarter. CWM LLC now owns 8,624 shares of the company's stock valued at $66,000 after acquiring an additional 1,267 shares during the period. Finally, Chilton Capital Management LLC lifted its holdings in shares of ProPetro by 87.1% during the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company's stock worth $75,000 after purchasing an additional 4,000 shares during the period. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on PUMP shares. Citigroup reduced their price target on ProPetro from $8.50 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. upgraded shares of ProPetro from an "underweight" rating to a "neutral" rating and set a $10.00 price target on the stock in a research report on Friday, December 6th. Barclays decreased their price target on ProPetro from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Finally, Stifel Nicolaus cut their target price on ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.25.

Insider Buying and Selling

In related news, CFO David Scott Schorlemer bought 4,500 shares of the company's stock in a transaction on Monday, November 4th. The shares were purchased at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the transaction, the chief financial officer now directly owns 112,992 shares in the company, valued at approximately $775,125.12. The trade was a 4.15 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is currently owned by insiders.

ProPetro Stock Down 0.1 %

PUMP traded down $0.01 during midday trading on Monday, hitting $9.11. The company had a trading volume of 2,625,399 shares, compared to its average volume of 1,465,142. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. The stock's 50 day moving average price is $8.06 and its 200 day moving average price is $8.22. ProPetro Holding Corp. has a 52 week low of $6.53 and a 52 week high of $10.02. The company has a market capitalization of $937.69 million, a price-to-earnings ratio of -6.85 and a beta of 2.07.

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.