314,760 Shares in ProPetro Holding Corp. (NYSE:PUMP) Purchased by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC bought a new stake in ProPetro Holding Corp. (NYSE:PUMP) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 314,760 shares of the company’s stock, valued at approximately $2,937,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its holdings in ProPetro by 38.9% in the third quarter. Intech Investment Management LLC now owns 42,057 shares of the company’s stock valued at $322,000 after purchasing an additional 11,774 shares during the last quarter. Quantbot Technologies LP purchased a new position in ProPetro during the 3rd quarter valued at about $444,000. FMR LLC raised its position in ProPetro by 271.0% during the third quarter. FMR LLC now owns 27,004 shares of the company’s stock worth $207,000 after acquiring an additional 19,726 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of ProPetro by 248.5% in the third quarter. BNP Paribas Financial Markets now owns 108,660 shares of the company’s stock valued at $832,000 after purchasing an additional 77,477 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings in shares of ProPetro by 147.1% in the third quarter. Verition Fund Management LLC now owns 71,909 shares of the company’s stock valued at $551,000 after purchasing an additional 42,804 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

ProPetro Price Performance

ProPetro stock opened at $7.58 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $782.02 million, a P/E ratio of -5.66 and a beta of 2.03. The firm has a fifty day moving average of $8.22 and a 200-day moving average of $8.45. ProPetro Holding Corp. has a 52-week low of $6.54 and a 52-week high of $11.17.

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.