Charles Schwab Investment Management Inc. lowered its position in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 17.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,281,081 shares of the company's stock after selling 269,526 shares during the period. Charles Schwab Investment Management Inc. owned about 1.24% of ProPetro worth $9,813,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its position in ProPetro by 84.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company's stock worth $25,000 after buying an additional 1,473 shares during the last quarter. Quarry LP acquired a new position in shares of ProPetro during the 2nd quarter worth $40,000. nVerses Capital LLC increased its holdings in shares of ProPetro by 226.3% in the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company's stock valued at $47,000 after purchasing an additional 4,300 shares in the last quarter. CWM LLC boosted its holdings in ProPetro by 17.2% during the third quarter. CWM LLC now owns 8,624 shares of the company's stock worth $66,000 after buying an additional 1,267 shares in the last quarter. Finally, Chilton Capital Management LLC grew its position in 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 buying an additional 4,000 shares during the period. 84.70% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on PUMP shares. Citigroup lowered their price target on ProPetro from $8.50 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus reduced their target price on ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Friday, October 11th. Barclays dropped their price target on ProPetro from $13.00 to $12.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. Finally, 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, ProPetro currently has an average rating of "Hold" and an average target price of $10.25.
Check Out Our Latest Analysis on ProPetro
Insider Buying and Selling
In other news, CFO David Scott Schorlemer purchased 4,500 shares of the stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $6.86 per share, with a total value of $30,870.00. Following the completion of the transaction, the chief financial officer now owns 112,992 shares in the company, valued at approximately $775,125.12. The trade was a 4.15 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.88% of the company's stock.
ProPetro Trading Up 20.7 %
NYSE PUMP traded up $1.63 during trading hours on Tuesday, hitting $9.51. 3,107,384 shares of the company's stock were exchanged, compared to its average volume of 1,433,564. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20. The firm has a market capitalization of $978.86 million, a P/E ratio of -6.40 and a beta of 2.07. The business's 50 day moving average is $7.96 and its 200-day moving average is $8.23. ProPetro Holding Corp. has a 12-month low of $6.53 and a 12-month high of $10.02.
About ProPetro
(
Free Report)
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.
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