Royce & Associates LP Grows Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Royce & Associates LP grew its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 29.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 931,139 shares of the company’s stock after acquiring an additional 212,312 shares during the period. Royce & Associates LP owned about 0.90% of ProPetro worth $8,688,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PUMP. Pacer Advisors Inc. increased its stake in shares of ProPetro by 95.4% during the third quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock valued at $54,790,000 after purchasing an additional 3,491,723 shares in the last quarter. Van ECK Associates Corp lifted its position in ProPetro by 57.3% in the 4th quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company’s stock valued at $14,253,000 after acquiring an additional 556,747 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in ProPetro during the 3rd quarter valued at $3,525,000. Weiss Asset Management LP purchased a new stake in ProPetro during the 3rd quarter valued at $2,292,000. Finally, Jackson Creek Investment Advisors LLC bought a new stake in shares of ProPetro in the 4th quarter worth $1,889,000. 84.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays dropped their price target on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Citigroup raised their target price on shares of ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Benchmark reiterated a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective for the company in a report on Friday, December 6th. Finally, Stifel Nicolaus upped their price objective on ProPetro from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.75.

ProPetro Stock Down 0.4 %

PUMP opened at $6.82 on Wednesday. The firm’s 50 day simple moving average is $8.91 and its two-hundred day simple moving average is $8.45. The company has a market capitalization of $703.20 million, a PE ratio of -5.09 and a beta of 2.03. ProPetro Holding Corp. has a 1-year low of $6.54 and a 1-year high of $11.17. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06.

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.