Farther Finance Advisors LLC Reduces Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Farther Finance Advisors LLC trimmed its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,442 shares of the company’s stock after selling 2,055 shares during the period. Farther Finance Advisors LLC’s holdings in ProPetro were worth $191,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Pacer Advisors Inc. increased its stake in shares of ProPetro by 95.4% during the 3rd quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock worth $54,790,000 after purchasing an additional 3,491,723 shares in the last quarter. Van ECK Associates Corp grew its stake in ProPetro by 57.3% in the 4th quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company’s stock worth $14,253,000 after acquiring an additional 556,747 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in ProPetro by 2.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,088,880 shares of the company’s stock worth $8,341,000 after acquiring an additional 28,660 shares during the period. Dana Investment Advisors Inc. grew its stake in ProPetro by 6.3% in the 4th quarter. Dana Investment Advisors Inc. now owns 796,775 shares of the company’s stock worth $7,434,000 after acquiring an additional 47,194 shares during the period. Finally, Empowered Funds LLC grew its stake in ProPetro by 5.1% in the 4th quarter. Empowered Funds LLC now owns 554,873 shares of the company’s stock worth $5,177,000 after acquiring an additional 27,086 shares during the period. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Stock Up 5.4 %

Shares of PUMP opened at $7.19 on Thursday. The firm has a market cap of $741.27 million, a PE ratio of -5.36 and a beta of 2.03. The company’s fifty day moving average is $8.85 and its two-hundred day moving average is $8.44. ProPetro Holding Corp. has a fifty-two week low of $6.54 and a fifty-two week high of $11.17. 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 Analysts Forecast Growth

Several research firms have commented on PUMP. Stifel Nicolaus lifted their target price 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 lowered their target price 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. JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price for the company in a research note on Friday, December 6th. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. Finally, Citigroup lifted their price target on shares of ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average 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.