Van ECK Associates Corp Purchases 556,747 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Van ECK Associates Corp boosted its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 57.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,527,598 shares of the company's stock after purchasing an additional 556,747 shares during the quarter. Van ECK Associates Corp owned about 1.48% of ProPetro worth $14,253,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its holdings 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 purchasing an additional 3,491,723 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of ProPetro by 2.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,088,880 shares of the company's stock worth $8,341,000 after purchasing an additional 28,660 shares during the period. Royce & Associates LP boosted its holdings in shares of ProPetro by 21.1% in the 3rd quarter. Royce & Associates LP now owns 718,827 shares of the company's stock worth $5,506,000 after purchasing an additional 125,232 shares during the period. Empowered Funds LLC boosted its holdings in shares of ProPetro by 5.1% in the 4th quarter. Empowered Funds LLC now owns 554,873 shares of the company's stock worth $5,177,000 after purchasing an additional 27,086 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of ProPetro in the 3rd quarter worth approximately $3,525,000. Institutional investors own 84.70% of the company's stock.

ProPetro Trading Down 2.5 %

PUMP traded down $0.23 during trading hours on Wednesday, reaching $8.81. 2,844,881 shares of the company's stock traded hands, compared to its average volume of 1,394,887. The firm has a 50-day moving average price of $9.53 and a 200 day moving average price of $8.51. ProPetro Holding Corp. has a 52-week low of $6.53 and a 52-week high of $11.17. 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 firm has a market capitalization of $906.30 million, a PE ratio of -6.62 and a beta of 1.98.

Analyst Ratings Changes

A number of brokerages have recently commented on PUMP. JPMorgan Chase & Co. upgraded 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 boosted their price objective on ProPetro from $8.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $10.75.

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.