Martingale Asset Management L P Sells 20,342 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Martingale Asset Management L P lessened its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 31.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,746 shares of the company’s stock after selling 20,342 shares during the period. Martingale Asset Management L P’s holdings in ProPetro were worth $408,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PUMP. Renaissance Technologies LLC raised its holdings in shares of ProPetro by 175.0% in the fourth quarter. Renaissance Technologies LLC now owns 239,800 shares of the company’s stock valued at $2,237,000 after purchasing an additional 152,600 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in ProPetro by 3.5% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 594,467 shares of the company’s stock valued at $5,546,000 after purchasing an additional 20,100 shares in the last quarter. Wells Fargo & Company MN increased its stake in ProPetro by 82.9% in the 4th quarter. Wells Fargo & Company MN now owns 76,870 shares of the company’s stock valued at $717,000 after buying an additional 34,831 shares during the last quarter. ExodusPoint Capital Management LP lifted its position 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 buying an additional 123,654 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in shares of ProPetro during the 4th quarter worth about $2,937,000. Institutional investors own 84.70% of the company’s stock.

ProPetro Price Performance

Shares of ProPetro stock opened at $4.99 on Monday. The company has a 50-day simple moving average of $7.46 and a two-hundred day simple moving average of $8.28. ProPetro Holding Corp. has a twelve month low of $4.61 and a twelve month high of $11.17. The stock has a market capitalization of $514.30 million, a price-to-earnings ratio of -3.72 and a beta of 1.58. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06.

Wall Street Analyst Weigh In

PUMP has been the subject of several analyst reports. Benchmark reissued a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. Stifel Nicolaus boosted their price objective on shares of ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Barclays dropped their target price on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Finally, Citigroup lifted their price target 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 stock. According to MarketBeat.com, ProPetro presently has an average rating of “Hold” and a consensus price target of $10.75.

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.