Vanguard Group Inc. Sells 352,885 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Vanguard Group Inc. reduced its position in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,583,726 shares of the company's stock after selling 352,885 shares during the period. Vanguard Group Inc. owned approximately 10.28% of ProPetro worth $98,746,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in shares of ProPetro by 205.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company's stock worth $28,000 after buying an additional 2,005 shares in the last quarter. GAMMA Investing LLC raised its stake in ProPetro by 38.0% in the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company's stock worth $41,000 after purchasing an additional 1,225 shares in the last quarter. KBC Group NV boosted its holdings in ProPetro by 90.5% in the 4th quarter. KBC Group NV now owns 8,045 shares of the company's stock valued at $75,000 after purchasing an additional 3,821 shares during the period. Raymond James Financial Inc. acquired a new position in shares of ProPetro during the 4th quarter worth approximately $94,000. Finally, Ieq Capital LLC raised its position in shares of ProPetro by 13.0% in the fourth quarter. Ieq Capital LLC now owns 13,604 shares of the company's stock valued at $127,000 after buying an additional 1,564 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PUMP shares. Citigroup raised their price objective on ProPetro from $8.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Benchmark restated a "hold" rating on shares of ProPetro in a research report on Thursday, February 20th. Barclays cut their price objective on shares of ProPetro from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Finally, Stifel Nicolaus raised their target price on shares of ProPetro from $11.00 to $12.00 and gave the company a "buy" rating in a 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $10.75.

ProPetro Price Performance

ProPetro stock traded down $0.05 during midday trading on Tuesday, reaching $5.13. The company's stock had a trading volume of 151,806 shares, compared to its average volume of 1,681,703. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06. The stock has a market cap of $531.89 million, a PE ratio of -3.82 and a beta of 1.58. ProPetro Holding Corp. has a 52 week low of $4.61 and a 52 week high of $11.17. The business has a 50-day moving average price of $7.38 and a 200-day moving average price of $8.26.

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.