EntryPoint Capital LLC Increases Holdings in ProPetro Holding Corp. (NYSE:PUMP)

EntryPoint Capital LLC grew its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 23.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 34,510 shares of the company’s stock after acquiring an additional 6,622 shares during the quarter. EntryPoint Capital LLC’s holdings in ProPetro were worth $322,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Victory Capital Management Inc. increased its stake in ProPetro by 16.8% in the third quarter. Victory Capital Management Inc. now owns 130,740 shares of the company’s stock valued at $1,001,000 after purchasing an additional 18,836 shares during the last quarter. Intech Investment Management LLC grew its position in shares of ProPetro by 38.9% in the 3rd quarter. Intech Investment Management LLC now owns 42,057 shares of the company’s stock valued at $322,000 after buying an additional 11,774 shares during the last quarter. Quantbot Technologies LP purchased a new stake in ProPetro in the third quarter valued at $444,000. FMR LLC lifted its position in ProPetro by 271.0% in the third quarter. FMR LLC now owns 27,004 shares of the company’s stock valued at $207,000 after acquiring an additional 19,726 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of ProPetro by 248.5% during the third quarter. BNP Paribas Financial Markets now owns 108,660 shares of the company’s stock worth $832,000 after purchasing an additional 77,477 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

Analyst Ratings Changes

PUMP has been the subject of several research reports. Barclays reduced their target price on ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Benchmark reissued a “hold” rating on shares of ProPetro in a report on Thursday, February 20th. Stifel Nicolaus lifted their target price on shares of ProPetro from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, February 21st. Citigroup increased their price target 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, 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 research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.75.

ProPetro Price Performance

ProPetro stock opened at $7.60 on Friday. The business has a 50 day simple moving average of $8.50 and a 200-day simple moving average of $8.43. ProPetro Holding Corp. has a 12 month low of $6.54 and a 12 month high of $11.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.31 and a quick ratio of 1.14. The stock has a market capitalization of $783.57 million, a PE ratio of -5.67 and a beta of 2.03.

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.