Royce & Associates LP Has $5.51 Million Stock Position in ProPetro Holding Corp. (NYSE:PUMP)

Royce & Associates LP grew its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 21.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 718,827 shares of the company’s stock after purchasing an additional 125,232 shares during the period. Royce & Associates LP’s holdings in ProPetro were worth $5,506,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of ProPetro by 16.8% in the third quarter. Victory Capital Management Inc. now owns 130,740 shares of the company’s stock valued at $1,001,000 after acquiring an additional 18,836 shares during the last quarter. GSA Capital Partners LLP bought a new position in ProPetro in the third quarter valued at approximately $403,000. Entropy Technologies LP increased its position in shares of ProPetro by 125.7% during the 3rd quarter. Entropy Technologies LP now owns 52,619 shares of the company’s stock worth $403,000 after purchasing an additional 29,305 shares during the last quarter. Stanley Laman Group Ltd. raised its stake in shares of ProPetro by 8.1% during the 3rd quarter. Stanley Laman Group Ltd. now owns 446,234 shares of the company’s stock worth $3,418,000 after purchasing an additional 33,482 shares in the last quarter. Finally, nVerses Capital LLC boosted its holdings in shares of ProPetro by 226.3% in the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock valued at $47,000 after buying an additional 4,300 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

Insider Transactions at ProPetro

In other news, CFO David Scott Schorlemer purchased 4,500 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of $6.86 per share, with a total value of $30,870.00. Following the acquisition, the chief financial officer now owns 112,992 shares in the company, valued at approximately $775,125.12. This trade represents a 4.15 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $41,300.00. Following the completion of the sale, the director now owns 34,006 shares of the company’s stock, valued at $280,889.56. This trade represents a 12.82 % 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PUMP shares. Barclays lowered their target price on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Stifel Nicolaus lowered their price objective on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, Citigroup cut their target price on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.33.

ProPetro Trading Up 3.6 %

PUMP stock opened at $7.86 on Tuesday. ProPetro Holding Corp. has a one year low of $6.53 and a one year high of $10.02. The stock has a market cap of $808.52 million, a price-to-earnings ratio of -5.89 and a beta of 2.04. The company has a fifty day moving average price of $7.79 and a two-hundred day moving average price of $8.38. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14.

ProPetro 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.