Royce & Associates LP Purchases 212,312 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Royce & Associates LP grew its position in ProPetro Holding Corp. (NYSE:PUMP) by 29.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 931,139 shares of the company’s stock after acquiring an additional 212,312 shares during the period. Royce & Associates LP’s holdings in ProPetro were worth $8,688,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC boosted its holdings in ProPetro by 109.2% in the 3rd quarter. Barclays PLC now owns 242,057 shares of the company’s stock worth $1,855,000 after buying an additional 126,346 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of ProPetro by 209.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 272,374 shares of the company’s stock valued at $2,115,000 after acquiring an additional 184,273 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of ProPetro in the third quarter worth about $3,525,000. Pacer Advisors Inc. grew its position in shares of ProPetro by 95.4% during the third quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock worth $54,790,000 after purchasing an additional 3,491,723 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in ProPetro during the 3rd quarter valued at approximately $197,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PUMP shares. Barclays cut their price objective on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Stifel Nicolaus raised their target price on shares of ProPetro from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Benchmark reiterated a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. JPMorgan Chase & Co. upgraded 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. Finally, Citigroup lifted 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.75.

ProPetro Price Performance

ProPetro stock opened at $6.82 on Wednesday. ProPetro Holding Corp. has a 52-week low of $6.54 and a 52-week high of $11.17. The company has a market cap of $703.20 million, a price-to-earnings ratio of -5.09 and a beta of 2.03. The firm’s fifty day moving average is $8.91 and its 200 day moving average is $8.45. The company has a quick ratio of 1.14, a current ratio of 1.31 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.