Point72 Asset Management L.P. Takes Position in ProPetro Holding Corp. (NYSE:PUMP)

Point72 Asset Management L.P. acquired a new position in ProPetro Holding Corp. (NYSE:PUMP) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 460,184 shares of the company’s stock, valued at approximately $3,525,000.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. purchased a new stake in shares of ProPetro during the second quarter worth $31,741,000. Dana Investment Advisors Inc. bought a new stake in shares of ProPetro during the 2nd quarter valued at $6,439,000. American Century Companies Inc. lifted its holdings in ProPetro by 21.3% during the 2nd quarter. American Century Companies Inc. now owns 2,515,579 shares of the company’s stock worth $21,810,000 after purchasing an additional 441,644 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in ProPetro by 441.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 303,971 shares of the company’s stock worth $2,635,000 after purchasing an additional 247,860 shares during the period. Finally, AXA S.A. boosted its stake in ProPetro by 963.9% in the 2nd quarter. AXA S.A. now owns 181,929 shares of the company’s stock worth $1,577,000 after purchasing an additional 164,829 shares during the period. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PUMP has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered 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. 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 research note on Wednesday, October 16th. Citigroup reduced 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. Finally, JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective on the stock in a research report on Friday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, ProPetro has an average rating of “Hold” and a consensus price target of $10.25.

Insider Transactions at ProPetro

In other news, CFO David Scott Schorlemer acquired 4,500 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were bought 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 represents a 4.15 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by insiders.

ProPetro Trading Down 4.0 %

Shares of ProPetro stock opened at $7.91 on Monday. The company has a 50 day simple moving average of $7.96 and a two-hundred day simple moving average of $8.24. The firm has a market cap of $814.18 million, a PE ratio of -5.95 and a beta of 2.07. 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 current ratio of 1.20 and a quick ratio of 1.14.

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.