ProPetro Holding Corp. (NYSE:PUMP) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 18.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,050,573 shares of the company’s stock after selling 230,508 shares during the period. Charles Schwab Investment Management Inc.’s holdings in ProPetro were worth $9,802,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of ProPetro by 205.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock worth $28,000 after acquiring an additional 2,005 shares in the last quarter. GAMMA Investing LLC increased its position in ProPetro by 38.0% during the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after buying an additional 1,225 shares during the period. KBC Group NV increased its position in ProPetro by 90.5% during the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after buying an additional 3,821 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in ProPetro during the third quarter worth approximately $77,000. Finally, Ieq Capital LLC increased its position in ProPetro by 13.0% during the fourth quarter. Ieq Capital LLC now owns 13,604 shares of the company’s stock worth $127,000 after buying an additional 1,564 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. raised ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target on the stock in a research report on Friday, December 6th. Citigroup lifted their price target on ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Stifel Nicolaus lifted their price target on ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Barclays cut their price target on ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Finally, Benchmark reaffirmed a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.75.

ProPetro Trading Down 0.8 %

Shares of PUMP stock opened at $7.24 on Friday. The business’s 50 day moving average is $8.74 and its two-hundred day moving average is $8.43. ProPetro Holding Corp. has a twelve month low of $6.54 and a twelve month high of $11.17. The company has a market capitalization of $746.43 million, a P/E ratio of -5.40 and a beta of 2.03. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06.

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.