ProPetro Holding Corp. (NYSE:PUMP) Position Cut by Jane Street Group LLC

Jane Street Group LLC lowered its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 60.0% in the 3rd quarter, Holdings Channel reports. The fund owned 199,195 shares of the company’s stock after selling 299,161 shares during the period. Jane Street Group LLC’s holdings in ProPetro were worth $1,526,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of ProPetro by 84.3% in the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after purchasing an additional 1,473 shares during the period. Quarry LP bought a new position in ProPetro in the 2nd quarter worth approximately $40,000. nVerses Capital LLC increased its position 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 acquiring an additional 4,300 shares during the period. Chilton Capital Management LLC raised its stake in ProPetro by 87.1% during the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock valued at $75,000 after acquiring an additional 4,000 shares in the last quarter. Finally, CWM LLC boosted its position 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 acquiring an additional 1,267 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

Insider Buying and Selling at ProPetro

In other ProPetro news, CFO David Scott Schorlemer purchased 4,500 shares of the company’s stock in a transaction dated 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 purchase, the chief financial officer now directly owns 112,992 shares in the company, valued at $775,125.12. This trade represents a 4.15 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.97% of the company’s stock.

ProPetro Stock Performance

PUMP stock opened at $9.03 on Friday. The firm has a 50 day simple moving average of $8.18 and a 200 day simple moving average of $8.22. ProPetro Holding Corp. has a 52 week low of $6.53 and a 52 week high of $10.02. The stock has a market cap of $929.46 million, a P/E ratio of -6.79 and a beta of 2.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20.

Analysts Set New Price Targets

Several research firms have commented on PUMP. JPMorgan Chase & Co. raised 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 lowered their price objective on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Citigroup cut 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. Finally, Stifel Nicolaus lowered their price target on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Three 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, ProPetro presently has an average rating of “Hold” and an average target price 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.