SG Americas Securities LLC Purchases New Stake in ProPetro Holding Corp. (NYSE:PUMP)

SG Americas Securities LLC acquired a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) in the 4th quarter, Holdings Channel.com reports. The firm acquired 101,595 shares of the company’s stock, valued at approximately $948,000.

A number of other large investors also recently added to or reduced their stakes in PUMP. GAMMA Investing LLC boosted its holdings in ProPetro by 84.3% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after buying an additional 1,473 shares during the last quarter. Quarry LP acquired a new stake in ProPetro in the second quarter worth $40,000. nVerses Capital LLC boosted its position in shares of ProPetro by 226.3% during the third quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after purchasing an additional 4,300 shares in the last quarter. CWM LLC grew its holdings in shares of ProPetro by 17.2% in the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after buying an additional 1,267 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of ProPetro in the 3rd quarter valued at $77,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ProPetro news, CFO David Scott Schorlemer purchased 4,500 shares of the firm’s 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 completion of the purchase, the chief financial officer now owns 112,992 shares of the company’s stock, valued at approximately $775,125.12. The trade was a 4.15 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on PUMP shares. Stifel Nicolaus lowered their target price on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, October 11th. JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective for the company in a research report on Friday, December 6th. Barclays cut their price objective on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Citigroup increased their target price on ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.75.

ProPetro Stock Performance

NYSE PUMP opened at $9.43 on Wednesday. ProPetro Holding Corp. has a 52-week low of $6.53 and a 52-week high of $11.17. The stock has a market cap of $970.12 million, a PE ratio of -7.09 and a beta of 2.00. The firm has a 50-day moving average of $9.36 and a 200-day moving average of $8.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20.

ProPetro Company 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.