Brandywine Global Investment Management LLC Makes New $2.94 Million Investment in ProPetro Holding Corp. (NYSE:PUMP)

Brandywine Global Investment Management LLC purchased a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 314,760 shares of the company's stock, valued at approximately $2,937,000. Brandywine Global Investment Management LLC owned 0.31% of ProPetro at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PUMP. GAMMA Investing LLC increased its holdings in shares of ProPetro by 38.0% in the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company's stock valued at $41,000 after purchasing an additional 1,225 shares during the period. Corient Private Wealth LLC increased its stake in ProPetro by 8.7% in the 4th quarter. Corient Private Wealth LLC now owns 17,591 shares of the company's stock valued at $164,000 after buying an additional 1,405 shares during the period. Ieq Capital LLC lifted its position in ProPetro by 13.0% in the 4th quarter. Ieq Capital LLC now owns 13,604 shares of the company's stock worth $127,000 after buying an additional 1,564 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of ProPetro by 205.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company's stock valued at $28,000 after buying an additional 2,005 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of ProPetro by 5.8% during the 3rd quarter. Franklin Resources Inc. now owns 61,979 shares of the company's stock valued at $513,000 after acquiring an additional 3,417 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PUMP. Benchmark restated a "hold" rating on shares of ProPetro in a report on Thursday, February 20th. Stifel Nicolaus raised their price target on shares of ProPetro from $11.00 to $12.00 and gave the company a "buy" rating in a report on Friday, February 21st. Citigroup lifted their price objective on shares of ProPetro from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Finally, Barclays lowered their target price on shares of ProPetro from $12.00 to $11.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Three equities research 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 a consensus rating of "Hold" and an average price target of $10.75.

ProPetro Stock Performance

Shares of NYSE PUMP traded up $0.03 during trading hours on Monday, hitting $5.26. 2,272,335 shares of the stock were exchanged, compared to its average volume of 1,552,955. ProPetro Holding Corp. has a one year low of $4.81 and a one year high of $11.17. The company's 50 day moving average is $7.94 and its 200 day moving average is $8.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.31 and a quick ratio of 1.14. The firm has a market capitalization of $542.15 million, a P/E ratio of -3.92 and a beta of 1.58.

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.