Pacer Advisors Inc. Grows Position in ProPetro Holding Corp. (NYSE:PUMP)

Pacer Advisors Inc. increased its stake in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 95.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,152,687 shares of the company's stock after purchasing an additional 3,491,723 shares during the quarter. Pacer Advisors Inc. owned 6.95% of ProPetro worth $54,790,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in ProPetro by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,095,253 shares of the company's stock valued at $61,515,000 after purchasing an additional 54,555 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of 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 buying an additional 441,644 shares in the last quarter. Encompass Capital Advisors LLC raised its stake in ProPetro by 2.4% during the 2nd quarter. Encompass Capital Advisors LLC now owns 1,526,485 shares of the company's stock worth $13,235,000 after acquiring an additional 36,339 shares in the last quarter. Bank of New York Mellon Corp lifted its position in ProPetro by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 780,498 shares of the company's stock valued at $6,767,000 after acquiring an additional 14,144 shares during the last quarter. Finally, Dana Investment Advisors Inc. purchased a new position in shares of ProPetro during the second quarter worth about $6,439,000. Hedge funds and other institutional investors own 84.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PUMP shares. Barclays lowered their target price on shares of ProPetro from $13.00 to $12.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Citigroup lowered their target price on ProPetro from $8.50 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. 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 note on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, ProPetro currently has an average rating of "Moderate Buy" and an average price target of $10.33.

Insider Buying and Selling

In related news, Director Michele Vion sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $8.26, for a total transaction of $41,300.00. Following the transaction, the director now directly owns 34,006 shares in the company, valued at approximately $280,889.56. This represents a 12.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Scott Schorlemer acquired 4,500 shares of the company's stock in a transaction dated Monday, November 4th. The shares were bought at an average cost of $6.86 per share, with a total value of $30,870.00. Following the purchase, 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 disclosure for this purchase can be found here. Insiders own 0.88% of the company's stock.

ProPetro Price Performance

ProPetro stock traded up $0.27 during trading hours on Friday, hitting $8.49. The stock had a trading volume of 1,201,268 shares, compared to its average volume of 1,440,057. The stock has a market capitalization of $873.88 million, a price-to-earnings ratio of -6.39 and a beta of 2.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14. ProPetro Holding Corp. has a 1-year low of $6.53 and a 1-year high of $10.02. The stock's fifty day moving average is $7.85 and its two-hundred day moving average is $8.35.

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.