BNP Paribas Financial Markets Acquires 77,477 Shares of ProPetro Holding Corp. (NYSE:PUMP)

BNP Paribas Financial Markets grew its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 248.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,660 shares of the company’s stock after purchasing an additional 77,477 shares during the period. BNP Paribas Financial Markets owned approximately 0.11% of ProPetro worth $832,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC lifted its holdings in ProPetro by 271.0% during the 3rd quarter. FMR LLC now owns 27,004 shares of the company’s stock worth $207,000 after purchasing an additional 19,726 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of ProPetro during the third quarter valued at about $444,000. Pacer Advisors Inc. lifted its holdings in shares of ProPetro by 95.4% in the third quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock worth $54,790,000 after buying an additional 3,491,723 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of 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 acquiring an additional 11,774 shares during the period. Finally, Jennison Associates LLC grew its stake in ProPetro by 47.4% during the third quarter. Jennison Associates LLC now owns 140,378 shares of the company’s stock valued at $1,075,000 after acquiring an additional 45,173 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Trading Up 4.1 %

NYSE PUMP opened at $9.68 on Thursday. The stock’s 50-day simple moving average is $8.02 and its two-hundred day simple moving average is $8.24. ProPetro Holding Corp. has a twelve month low of $6.53 and a twelve month high of $10.02. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $995.85 million, a price-to-earnings ratio of -7.27 and a beta of 2.07.

Insider Buying and Selling

In related news, CFO David Scott Schorlemer purchased 4,500 shares of ProPetro stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the transaction, the chief financial officer now directly owns 112,992 shares in the company, valued at $775,125.12. The trade was a 4.15 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PUMP has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price on the stock in a research note on Friday, December 6th. Barclays dropped their price objective on ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Citigroup decreased their target price on ProPetro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Stifel Nicolaus dropped their price target on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Three equities research 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, the company presently has a consensus rating of “Hold” and an average price target of $10.25.

ProPetro 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.