Royce & Associates LP Has $5.51 Million Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Royce & Associates LP increased its position in ProPetro Holding Corp. (NYSE:PUMP) by 21.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 718,827 shares of the company’s stock after purchasing an additional 125,232 shares during the quarter. Royce & Associates LP owned approximately 0.70% of ProPetro worth $5,506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of ProPetro by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,095,253 shares of the company’s stock worth $61,515,000 after buying an additional 54,555 shares during the period. Pacer Advisors Inc. acquired a new stake in ProPetro during the 2nd quarter worth $31,741,000. American Century Companies Inc. grew its holdings in ProPetro by 21.3% during the 2nd quarter. American Century Companies Inc. now owns 2,515,579 shares of the company’s stock worth $21,810,000 after acquiring an additional 441,644 shares during the period. Encompass Capital Advisors LLC raised its position in shares of ProPetro by 2.4% during the 2nd quarter. Encompass Capital Advisors LLC now owns 1,526,485 shares of the company’s stock valued at $13,235,000 after acquiring an additional 36,339 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of ProPetro by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 780,498 shares of the company’s stock valued at $6,767,000 after purchasing an additional 14,144 shares during the period. 84.70% of the stock is owned by institutional investors.

Insider Activity

In other ProPetro news, Director Michele Vion sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $8.26, for a total transaction of $41,300.00. Following the sale, the director now directly owns 34,006 shares in the company, valued at approximately $280,889.56. This trade represents a 12.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David Scott Schorlemer purchased 4,500 shares of ProPetro stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $6.86 per share, with a total value of $30,870.00. Following the acquisition, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at approximately $775,125.12. This trade represents a 4.15 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.88% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PUMP has been the subject of a number of recent analyst reports. Citigroup dropped their price objective on ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus decreased 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. Finally, Barclays cut their price target 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. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.33.

ProPetro Stock Performance

Shares of ProPetro stock opened at $7.86 on Tuesday. ProPetro Holding Corp. has a 12 month low of $6.53 and a 12 month high of $10.02. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $808.52 million, a PE ratio of -5.89 and a beta of 2.04. The stock’s fifty day simple moving average is $7.79 and its 200 day simple moving average is $8.38.

About ProPetro

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.