Charles Schwab Investment Management Inc. Sells 230,508 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Charles Schwab Investment Management Inc. cut its stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 18.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,050,573 shares of the company's stock after selling 230,508 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.02% of ProPetro worth $9,802,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PUMP. Van ECK Associates Corp grew its position in ProPetro by 57.3% in the 4th quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company's stock worth $14,253,000 after purchasing an additional 556,747 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings 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 worth $8,341,000 after acquiring an additional 28,660 shares during the period. Empowered Funds LLC grew its holdings in shares of 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. Point72 Asset Management L.P. purchased a new position in ProPetro in the third quarter worth about $3,525,000. Finally, Stanley Laman Group Ltd. increased its position in shares of ProPetro by 2.7% during the 4th quarter. Stanley Laman Group Ltd. now owns 458,425 shares of the company's stock valued at $4,277,000 after purchasing an additional 12,191 shares during the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of analysts have commented on PUMP shares. Stifel Nicolaus upped their target price on shares of ProPetro from $11.00 to $12.00 and gave the company 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 for the company in a report on Friday, December 6th. Citigroup lifted their price target on shares of ProPetro from $8.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Barclays reduced their price objective on shares of ProPetro from $12.00 to $11.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Finally, Benchmark reaffirmed a "hold" rating on shares of ProPetro in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $10.75.

ProPetro Price Performance

Shares of NYSE:PUMP traded down $0.06 during mid-day trading on Wednesday, reaching $7.54. The stock had a trading volume of 1,574,467 shares, compared to its average volume of 1,476,480. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06. ProPetro Holding Corp. has a 1 year low of $6.54 and a 1 year high of $11.17. The business's 50 day moving average price is $8.63 and its 200 day moving average price is $8.44. The company has a market cap of $777.48 million, a P/E ratio of -5.62 and a beta of 2.03.

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.