Sterling Capital Management LLC Acquires 2,535 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Sterling Capital Management LLC raised its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 5.8% in the 4th quarter, Holdings Channel reports. The firm owned 46,415 shares of the company’s stock after purchasing an additional 2,535 shares during the quarter. Sterling Capital Management LLC’s holdings in ProPetro were worth $433,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PUMP. Raymond James Financial Inc. purchased a new position in ProPetro in the 4th quarter worth about $94,000. Renaissance Technologies LLC grew its stake in ProPetro by 175.0% in the 4th quarter. Renaissance Technologies LLC now owns 239,800 shares of the company’s stock worth $2,237,000 after acquiring an additional 152,600 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of ProPetro by 3.5% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 594,467 shares of the company’s stock worth $5,546,000 after acquiring an additional 20,100 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of ProPetro by 82.9% in the fourth quarter. Wells Fargo & Company MN now owns 76,870 shares of the company’s stock valued at $717,000 after purchasing an additional 34,831 shares during the period. Finally, ExodusPoint Capital Management LP increased its holdings in ProPetro by 53.2% during the 4th quarter. ExodusPoint Capital Management LP now owns 356,038 shares of the company’s stock worth $3,322,000 after purchasing an additional 123,654 shares during the period. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Stock Performance

Shares of ProPetro stock opened at $5.40 on Friday. The company has a market capitalization of $560.02 million, a PE ratio of -4.03 and a beta of 1.58. The company has a 50-day simple moving average of $7.10 and a two-hundred day simple moving average of $8.18. ProPetro Holding Corp. has a one year low of $4.61 and a one year high of $11.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.31.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Citigroup increased 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 raised their target price on shares of ProPetro from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. Finally, Barclays dropped their price objective 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.