Proficio Capital Partners LLC Takes Position in ProPetro Holding Corp. (NYSE:PUMP)

Proficio Capital Partners LLC bought a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) during the fourth quarter, HoldingsChannel reports. The firm bought 18,809 shares of the company’s stock, valued at approximately $175,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings 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 purchasing an additional 2,005 shares in the last quarter. Ieq Capital LLC boosted its stake 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 in the last quarter. New York State Common Retirement Fund increased its holdings in ProPetro by 46.9% in the 4th quarter. New York State Common Retirement Fund now owns 23,498 shares of the company’s stock valued at $219,000 after buying an additional 7,502 shares during the period. Principal Financial Group Inc. raised its stake in shares of ProPetro by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 384,768 shares of the company’s stock valued at $3,590,000 after buying an additional 6,099 shares in the last quarter. Finally, Stanley Laman Group Ltd. lifted its holdings in shares of ProPetro by 2.7% during the 4th quarter. Stanley Laman Group Ltd. now owns 458,425 shares of the company’s stock worth $4,277,000 after acquiring an additional 12,191 shares during the period. 84.70% of the stock is currently owned by institutional investors.

ProPetro Price Performance

ProPetro stock opened at $7.60 on Friday. ProPetro Holding Corp. has a 52 week low of $6.54 and a 52 week high of $11.17. The firm has a market cap of $783.57 million, a P/E ratio of -5.67 and a beta of 2.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.31. The business’s fifty day moving average is $8.50 and its two-hundred day moving average is $8.43.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Barclays cut their price target on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Stifel Nicolaus raised their target price on ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. upgraded 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 objective on ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Benchmark reiterated 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 issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus 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.