Geode Capital Management LLC Sells 39,363 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Geode Capital Management LLC cut its stake in ProPetro Holding Corp. (NYSE:PUMP) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,890,853 shares of the company’s stock after selling 39,363 shares during the period. Geode Capital Management LLC’s holdings in ProPetro were worth $17,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of PUMP. Smartleaf Asset Management LLC raised its stake 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. GAMMA Investing LLC boosted its position in shares of ProPetro by 38.0% in the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock valued at $41,000 after acquiring an additional 1,225 shares during the period. KBC Group NV grew its position in shares of ProPetro by 90.5% during the 4th quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after purchasing an additional 3,821 shares in the last quarter. Raymond James Financial Inc. bought a new position in ProPetro during the 4th quarter worth $94,000. Finally, Ieq Capital LLC increased its position in shares of ProPetro by 13.0% in the fourth quarter. Ieq Capital LLC now owns 13,604 shares of the company’s stock worth $127,000 after purchasing an additional 1,564 shares during the period. Institutional investors own 84.70% of the company’s stock.

ProPetro Price Performance

Shares of NYSE PUMP opened at $5.40 on Friday. The stock has a market cap of $560.02 million, a price-to-earnings ratio of -4.03 and a beta of 1.58. The firm’s 50-day simple moving average is $7.10 and its 200 day simple moving average is $8.18. ProPetro Holding Corp. has a fifty-two week low of $4.61 and a fifty-two week 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

Several brokerages have commented on PUMP. Barclays cut their target price on 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 lifted their target price on ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Citigroup lifted their target price on shares of ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, Benchmark restated a “hold” rating on shares of ProPetro in a report on Thursday, February 20th. Three 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 stock has a consensus rating of “Hold” and a consensus price target 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.