Quest Partners LLC Decreases Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Quest Partners LLC lessened its stake in ProPetro Holding Corp. (NYSE:PUMP) by 58.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,402 shares of the company’s stock after selling 21,256 shares during the quarter. Quest Partners LLC’s holdings in ProPetro were worth $118,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of ProPetro by 84.3% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after acquiring an additional 1,473 shares during the last quarter. Quarry LP purchased a new stake in shares of ProPetro during the second quarter worth approximately $40,000. nVerses Capital LLC raised its stake in ProPetro by 226.3% in the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock valued at $47,000 after purchasing an additional 4,300 shares during the last quarter. Chilton Capital Management LLC lifted its holdings in ProPetro by 87.1% in the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock valued at $75,000 after purchasing an additional 4,000 shares in the last quarter. Finally, CWM LLC boosted its stake in ProPetro by 17.2% during the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after purchasing an additional 1,267 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

ProPetro Trading Down 1.0 %

Shares of PUMP opened at $8.40 on Friday. ProPetro Holding Corp. has a 12-month low of $6.53 and a 12-month high of $10.02. The firm has a market capitalization of $864.10 million, a P/E ratio of -6.31 and a beta of 2.04. The firm has a 50-day moving average price of $7.92 and a 200 day moving average price of $8.31. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.05.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PUMP shares. Stifel Nicolaus reduced their target price on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Citigroup cut their price objective on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Barclays dropped their price target on ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Insider Activity

In other ProPetro news, CFO David Scott Schorlemer bought 4,500 shares of ProPetro stock in a transaction on Monday, November 4th. The shares were bought at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the transaction, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at $775,125.12. This trade represents a 4.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.88% of the company’s stock.

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.