ProPetro Holding Corp. (NYSE:PUMP) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in ProPetro Holding Corp. (NYSE:PUMP) by 57.3% in the fourth quarter, Holdings Channel reports. The fund owned 1,527,598 shares of the company’s stock after purchasing an additional 556,747 shares during the period. Van ECK Associates Corp’s holdings in ProPetro were worth $14,253,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its position in ProPetro by 38.0% in 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. CWM LLC grew its holdings in shares of ProPetro by 17.2% during the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after purchasing an additional 1,267 shares during the period. Franklin Resources Inc. raised its holdings in ProPetro by 5.8% in the 3rd quarter. Franklin Resources Inc. now owns 61,979 shares of the company’s stock valued at $513,000 after buying an additional 3,417 shares during the period. KBC Group NV lifted its position in ProPetro by 90.5% in the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock valued at $75,000 after buying an additional 3,821 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its stake in ProPetro by 24.1% during the third quarter. Quadrature Capital Ltd now owns 20,252 shares of the company’s stock worth $155,000 after buying an additional 3,927 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PUMP shares. JPMorgan Chase & Co. upgraded shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective on the stock in a report on Friday, December 6th. Citigroup raised 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, ProPetro currently has an average rating of “Hold” and a consensus price target of $10.75.

ProPetro Price Performance

ProPetro stock opened at $8.81 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. ProPetro Holding Corp. has a 52-week low of $6.53 and a 52-week high of $11.17. The firm has a market cap of $906.40 million, a PE ratio of -6.62 and a beta of 1.98. The company’s 50 day moving average is $9.51 and its two-hundred day moving average is $8.52.

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.