ProPetro Holding Corp. (NYSE:PUMP) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 2.5% in the third quarter, Holdings Channel reports. The firm owned 196,125 shares of the company’s stock after selling 4,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in ProPetro were worth $1,502,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CWM LLC increased its position in shares of 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. GAMMA Investing LLC increased its position in shares of ProPetro by 84.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after purchasing an additional 1,473 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of ProPetro by 1.8% during the 2nd quarter. Victory Capital Management Inc. now owns 111,904 shares of the company’s stock worth $970,000 after purchasing an additional 1,990 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of ProPetro by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,392 shares of the company’s stock worth $324,000 after purchasing an additional 2,257 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in ProPetro by 8.9% in the 2nd quarter. Federated Hermes Inc. now owns 29,912 shares of the company’s stock valued at $259,000 after acquiring an additional 2,446 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on PUMP. Barclays dropped their target price on ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Citigroup dropped their target price on ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price for the company in a research report on Friday, December 6th. Finally, Stifel Nicolaus dropped their target price 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, ProPetro has a consensus rating of “Hold” and an average price target of $10.25.

ProPetro Trading Down 0.1 %

Shares of PUMP stock opened at $9.11 on Tuesday. The business’s fifty day moving average price is $8.06 and its 200 day moving average price is $8.22. ProPetro Holding Corp. has a 1-year low of $6.53 and a 1-year high of $10.02. The firm has a market capitalization of $937.69 million, a PE ratio of -6.85 and a beta of 2.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14.

Insiders Place Their Bets

In related news, CFO David Scott Schorlemer acquired 4,500 shares of ProPetro stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at $775,125.12. The trade was a 4.15 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.88% of the stock is owned by company insiders.

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.