Thrivent Financial for Lutherans Decreases Position in ProPetro Holding Corp. (NYSE:PUMP)

Thrivent Financial for Lutherans reduced its stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 74.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,984 shares of the company's stock after selling 188,150 shares during the quarter. Thrivent Financial for Lutherans owned about 0.06% of ProPetro worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PUMP. GAMMA Investing LLC raised its holdings in ProPetro by 84.3% in the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company's stock worth $25,000 after buying an additional 1,473 shares during the last quarter. Quarry LP bought a new stake in shares of ProPetro during the second quarter valued at approximately $40,000. nVerses Capital LLC raised its holdings in ProPetro by 226.3% in the 3rd 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 last quarter. CWM LLC lifted its position in ProPetro by 17.2% in 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 in the last quarter. Finally, Chilton Capital Management LLC boosted its stake in ProPetro by 87.1% during the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company's stock valued at $75,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors own 84.70% of the company's stock.

Insider Activity

In other news, CFO David Scott Schorlemer bought 4,500 shares of ProPetro stock in a transaction dated Monday, November 4th. The shares were 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 of the company's stock, valued at $775,125.12. This trade represents a 4.15 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.88% of the company's stock.

ProPetro Price Performance

PUMP stock traded down $0.21 during trading on Friday, reaching $8.03. The company's stock had a trading volume of 615,000 shares, compared to its average volume of 1,423,343. The company's fifty day moving average is $7.95 and its 200-day moving average is $8.27. ProPetro Holding Corp. has a 1 year low of $6.53 and a 1 year high of $10.02. The company has a market capitalization of $826.53 million, a P/E ratio of -5.83 and a beta of 2.07. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PUMP. JPMorgan Chase & Co. upgraded shares of ProPetro from an "underweight" rating to a "neutral" rating and set a $10.00 target price on the stock in a research note on Friday. Citigroup lowered their price objective on shares of ProPetro from $8.50 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. Barclays cut their target price on shares of ProPetro from $13.00 to $12.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus lowered their price target on ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, ProPetro currently has a consensus rating of "Hold" and a consensus price target of $10.25.

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.