Point72 Asset Management L.P. Invests $3.53 Million in ProPetro Holding Corp. (NYSE:PUMP)

Point72 Asset Management L.P. purchased a new position in ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 460,184 shares of the company's stock, valued at approximately $3,525,000. Point72 Asset Management L.P. owned about 0.45% of ProPetro as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PUMP. GAMMA Investing LLC lifted its stake in shares of ProPetro by 84.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company's stock worth $25,000 after purchasing an additional 1,473 shares during the period. Quarry LP purchased a new stake in ProPetro during the second quarter valued at approximately $40,000. nVerses Capital LLC raised its position in ProPetro by 226.3% in the third quarter. nVerses Capital LLC now owns 6,200 shares of the company's stock worth $47,000 after acquiring an additional 4,300 shares during the period. Chilton Capital Management LLC boosted its stake in shares of ProPetro by 87.1% during the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company's stock worth $75,000 after acquiring an additional 4,000 shares during the last quarter. Finally, CWM LLC grew its position in shares of ProPetro by 17.2% during 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. Hedge funds and other institutional investors own 84.70% of the company's stock.

Analyst Ratings Changes

PUMP has been the topic of several analyst reports. JPMorgan Chase & Co. upgraded ProPetro from an "underweight" rating to a "neutral" rating and set a $10.00 target price on the stock in a research report on Friday. Stifel Nicolaus lowered their price objective on ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, October 11th. Citigroup reduced their target price on shares of ProPetro from $8.50 to $8.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Finally, Barclays lowered their price target on shares of ProPetro from $13.00 to $12.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, ProPetro presently has an average rating of "Hold" and an average target price of $10.25.

Insider Buying and Selling

In other ProPetro news, CFO David Scott Schorlemer bought 4,500 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $6.86 per share, with a total value of $30,870.00. Following the completion of the acquisition, the chief financial officer now owns 112,992 shares in the company, valued at $775,125.12. This trade represents a 4.15 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is owned by company insiders.

ProPetro Stock Down 0.1 %

NYSE PUMP traded down $0.01 during trading hours on Monday, reaching $7.90. The company's stock had a trading volume of 457,311 shares, compared to its average volume of 1,423,059. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. ProPetro Holding Corp. has a 1 year low of $6.53 and a 1 year high of $10.02. The firm's 50-day moving average price is $7.96 and its 200-day moving average price is $8.24.

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.