Van ECK Associates Corp Reduces Stock Position in ProPetro Holding Corp. (NYSE:PUMP)

Van ECK Associates Corp trimmed its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 13.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 970,851 shares of the company's stock after selling 149,292 shares during the period. Van ECK Associates Corp owned approximately 0.93% of ProPetro worth $7,398,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. CWM LLC boosted its stake in 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 purchasing an additional 1,267 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 1,473 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in ProPetro by 1.8% during the second quarter. Victory Capital Management Inc. now owns 111,904 shares of the company's stock worth $970,000 after purchasing an additional 1,990 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in ProPetro by 6.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,392 shares of the company's stock worth $324,000 after purchasing an additional 2,257 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in ProPetro by 8.9% in the 2nd quarter. Federated Hermes Inc. now owns 29,912 shares of the company's stock valued at $259,000 after buying an additional 2,446 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PUMP shares. Citigroup dropped their price target on ProPetro from $8.50 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus cut their price target on shares of ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, October 11th. Finally, Barclays lowered their price objective on shares of ProPetro from $13.00 to $12.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Two 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.33.

ProPetro Price Performance

Shares of PUMP stock traded down $0.28 during trading on Friday, reaching $7.68. 515,488 shares of the company's stock traded hands, compared to its average volume of 1,448,641. ProPetro Holding Corp. has a 1 year low of $6.53 and a 1 year high of $10.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20. The firm's 50-day moving average is $7.76 and its 200 day moving average is $8.42.

Insider Activity at ProPetro

In other news, Director Michele Vion sold 5,000 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $8.26, for a total transaction of $41,300.00. Following the completion of the transaction, the director now directly owns 34,006 shares in the company, valued at $280,889.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO David Scott Schorlemer bought 4,500 shares of ProPetro stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $6.86 per share, with a total value of $30,870.00. Following the completion of the purchase, the chief financial officer now directly owns 112,992 shares in the company, valued at $775,125.12. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michele Vion sold 5,000 shares of the company's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $8.26, for a total value of $41,300.00. Following the completion of the transaction, the director now owns 34,006 shares of the company's stock, valued at $280,889.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

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.