Pacer Advisors Inc. Increases Stock Position in ProPetro Holding Corp. (NYSE:PUMP)

Pacer Advisors Inc. grew its stake in ProPetro Holding Corp. (NYSE:PUMP) by 95.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,152,687 shares of the company’s stock after purchasing an additional 3,491,723 shares during the period. Pacer Advisors Inc. owned approximately 0.07% of ProPetro worth $54,790,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings in ProPetro by 36.9% in the first quarter. Russell Investments Group Ltd. now owns 384,529 shares of the company’s stock valued at $3,107,000 after acquiring an additional 103,644 shares during the period. SG Americas Securities LLC purchased a new stake in ProPetro during the second quarter worth about $746,000. Exchange Traded Concepts LLC acquired a new position in ProPetro during the third quarter worth about $1,013,000. Creative Planning increased its holdings in ProPetro by 80.0% in the third quarter. Creative Planning now owns 57,238 shares of the company’s stock valued at $438,000 after buying an additional 25,445 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of ProPetro during the 2nd quarter valued at approximately $764,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insider Buying and Selling at ProPetro

In related news, CFO David Scott Schorlemer bought 4,500 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was bought at an average price of $6.86 per share, with a total value of $30,870.00. Following the purchase, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at approximately $775,125.12. This represents a 4.15 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 directly owns 34,006 shares in the company, valued at approximately $280,889.56. The trade was 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PUMP. Barclays cut their price objective on ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Stifel Nicolaus cut their price objective 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, Citigroup dropped their price target on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, ProPetro currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

ProPetro Price Performance

Shares of PUMP opened at $8.22 on Friday. The stock’s fifty day moving average is $7.83 and its 200-day moving average is $8.35. The firm has a market capitalization of $846.08 million, a price-to-earnings ratio of -6.18 and a beta of 2.04. ProPetro Holding Corp. has a one year low of $6.53 and a one 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.

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.