ProPetro Holding Corp. (NYSE:PUMP) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 75.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,228 shares of the company's stock after selling 265,185 shares during the period. Prudential Financial Inc. owned 0.08% of ProPetro worth $786,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PUMP. Smartleaf Asset Management LLC increased its holdings in shares of ProPetro by 205.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company's stock valued at $28,000 after acquiring an additional 2,005 shares during the period. GAMMA Investing LLC raised its holdings in shares of ProPetro by 38.0% in the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company's stock valued at $41,000 after buying an additional 1,225 shares during the last quarter. KBC Group NV grew its holdings in shares of ProPetro by 90.5% during the fourth quarter. KBC Group NV now owns 8,045 shares of the company's stock worth $75,000 after buying an additional 3,821 shares during the last quarter. Raymond James Financial Inc. acquired a new position in ProPetro in the 4th quarter valued at about $94,000. Finally, Ieq Capital LLC raised its stake in ProPetro by 13.0% during the 4th quarter. Ieq Capital LLC now owns 13,604 shares of the company's stock valued at $127,000 after acquiring an additional 1,564 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on PUMP shares. Citigroup lifted their target price on ProPetro from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Stifel Nicolaus boosted their price objective on shares of ProPetro from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Benchmark restated a "hold" rating on shares of ProPetro in a research note on Thursday, February 20th. Finally, 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 report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $10.75.

ProPetro Price Performance

Shares of NYSE:PUMP traded up $0.06 on Friday, reaching $4.99. 1,268,356 shares of the company were exchanged, compared to its average volume of 1,567,408. The company has a 50-day moving average of $7.46 and a 200-day moving average of $8.27. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06. The firm has a market cap of $514.30 million, a price-to-earnings ratio of -3.72 and a beta of 1.58. ProPetro Holding Corp. has a 1-year low of $4.61 and a 1-year high of $11.17.

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.