Royce & Associates LP Purchases 125,232 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Royce & Associates LP increased its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 21.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 718,827 shares of the company's stock after purchasing an additional 125,232 shares during the period. Royce & Associates LP owned approximately 0.70% of ProPetro worth $5,506,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PUMP. GAMMA Investing LLC increased its stake in ProPetro by 84.3% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company's stock valued at $25,000 after acquiring an additional 1,473 shares during the period. Quarry LP bought a new position in ProPetro during the second quarter valued at about $40,000. nVerses Capital LLC increased its stake in ProPetro by 226.3% during the third quarter. nVerses Capital LLC now owns 6,200 shares of the company's stock valued at $47,000 after acquiring an additional 4,300 shares during the period. Chilton Capital Management LLC increased its stake in ProPetro by 87.1% during the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company's stock valued at $75,000 after acquiring an additional 4,000 shares during the period. Finally, CWM LLC increased its stake in ProPetro by 17.2% during the third 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. Institutional investors and hedge funds own 84.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PUMP. Barclays lowered their price objective on ProPetro from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Citigroup lowered their price objective 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 lowered their price objective on ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Friday, October 11th. Two research 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, ProPetro currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.33.

Insider Activity

In related news, Director Michele Vion sold 5,000 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $8.26, for a total transaction of $41,300.00. Following the sale, the director now owns 34,006 shares of the company's stock, valued at approximately $280,889.56. This trade represents a 12.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Scott Schorlemer acquired 4,500 shares of the company's stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the purchase, the chief financial officer now directly owns 112,992 shares in the company, valued at $775,125.12. This trade represents a 4.15 % increase in their position. The disclosure for this purchase can be found here. 0.97% of the stock is currently owned by company insiders.

ProPetro Trading Down 1.0 %

Shares of PUMP stock traded down $0.07 during trading hours on Tuesday, reaching $7.78. The company had a trading volume of 894,651 shares, compared to its average volume of 1,444,938. The company has a 50 day moving average of $7.80 and a 200 day moving average of $8.37. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14. The firm has a market cap of $800.28 million, a price-to-earnings ratio of -5.84 and a beta of 2.04. ProPetro Holding Corp. has a 1-year low of $6.53 and a 1-year high of $10.02.

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.