Quantbot Technologies LP Has $249,000 Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Quantbot Technologies LP reduced its stake in ProPetro Holding Corp. (NYSE:PUMP) by 53.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,721 shares of the company’s stock after selling 31,260 shares during the period. Quantbot Technologies LP’s holdings in ProPetro were worth $249,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PUMP. Van ECK Associates Corp increased its stake in ProPetro by 57.3% in the fourth quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company’s stock valued at $14,253,000 after purchasing an additional 556,747 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of ProPetro in the 3rd quarter valued at $3,525,000. Weiss Asset Management LP acquired a new stake in ProPetro during the 3rd quarter worth $2,292,000. Royce & Associates LP lifted its holdings in ProPetro by 29.5% during the fourth quarter. Royce & Associates LP now owns 931,139 shares of the company’s stock worth $8,688,000 after acquiring an additional 212,312 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new position in ProPetro in the fourth quarter valued at about $1,889,000. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Stock Performance

Shares of PUMP opened at $7.38 on Friday. The stock has a market capitalization of $760.87 million, a price-to-earnings ratio of -5.50 and a beta of 2.03. ProPetro Holding Corp. has a 12 month low of $6.54 and a 12 month high of $11.17. The firm has a fifty day simple moving average of $8.43 and a 200 day simple moving average of $8.44. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06.

Wall Street Analysts Forecast Growth

PUMP has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price objective on ProPetro from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. upgraded shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target for the company in a report on Friday, December 6th. Citigroup raised their price objective on shares of ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Barclays reduced their target price on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, Benchmark reissued a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, ProPetro has an average rating of “Hold” and a consensus target price of $10.75.

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.