ProPetro Holding Corp. (NYSE:PUMP) Position Boosted by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 248.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,660 shares of the company's stock after buying an additional 77,477 shares during the period. BNP Paribas Financial Markets owned about 0.11% of ProPetro worth $832,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its position in shares of ProPetro by 95.4% in the 3rd 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. SG Americas Securities LLC acquired a new position in ProPetro in the second quarter worth $746,000. Exchange Traded Concepts LLC bought a new stake in ProPetro during the third quarter valued at $1,013,000. Creative Planning raised its holdings in shares of ProPetro by 80.0% during the third quarter. Creative Planning now owns 57,238 shares of the company's stock worth $438,000 after purchasing an additional 25,445 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new position in ProPetro in the second quarter worth about $764,000. 84.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO David Scott Schorlemer bought 4,500 shares of the company's stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $6.86 per share, with a total value 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is currently owned by company insiders.

ProPetro Price Performance

ProPetro stock traded down $0.25 during midday trading on Thursday, hitting $9.42. The company's stock had a trading volume of 3,173,104 shares, compared to its average volume of 1,455,111. 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 $8.02 and its 200-day moving average price is $8.24. ProPetro Holding Corp. has a 12 month low of $6.53 and a 12 month high of $10.02. The company has a market capitalization of $969.60 million, a PE ratio of -7.13 and a beta of 2.07.

Wall Street Analyst Weigh In

Several research firms recently commented on PUMP. Citigroup lowered their target price on ProPetro from $8.50 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. Barclays cut their price objective on shares of ProPetro from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upgraded shares of ProPetro from an "underweight" rating to a "neutral" rating and set a $10.00 target price for the company in a research report on Friday, December 6th. Finally, Stifel Nicolaus dropped their price target on shares of 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 given a buy rating to the company's stock. Based on data from MarketBeat, ProPetro presently has an average rating of "Hold" and an average target price of $10.25.

ProPetro Company 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.