AXQ Capital LP Takes $151,000 Position in ProPetro Holding Corp. (NYSE:PUMP)

AXQ Capital LP purchased a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 16,198 shares of the company’s stock, valued at approximately $151,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PUMP. Smartleaf Asset Management LLC lifted 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 buying an additional 2,005 shares in the last quarter. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 1,225 shares during the period. KBC Group NV lifted its holdings 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 acquiring an additional 3,821 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in ProPetro in the third quarter worth $77,000. Finally, Raymond James Financial Inc. bought a new position in ProPetro in the 4th quarter valued at $94,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Price Performance

PUMP opened at $7.60 on Tuesday. The company has a market capitalization of $783.57 million, a price-to-earnings ratio of -5.67 and a beta of 2.03. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $8.68 and a 200-day moving average price of $8.44. ProPetro Holding Corp. has a twelve month low of $6.54 and a twelve month high of $11.17.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PUMP shares. JPMorgan Chase & Co. upgraded 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 dropped their target price on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Citigroup raised their price target on shares of ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a report on Thursday, February 20th. Finally, Stifel Nicolaus increased 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.