American Century Companies Inc. Acquires 262,202 Shares of ProPetro Holding Corp. (NYSE:PUMP)

American Century Companies Inc. increased its stake in ProPetro Holding Corp. (NYSE:PUMP) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,236,135 shares of the company’s stock after buying an additional 262,202 shares during the period. American Century Companies Inc.’s holdings in ProPetro were worth $30,193,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. 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 in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of ProPetro in the third quarter valued at approximately $3,525,000. Weiss Asset Management LP bought a new position in ProPetro in the third quarter worth approximately $2,292,000. Royce & Associates LP increased its holdings in ProPetro by 29.5% during the 4th quarter. Royce & Associates LP now owns 931,139 shares of the company’s stock worth $8,688,000 after purchasing an additional 212,312 shares during the period. Finally, Jackson Creek Investment Advisors LLC bought a new stake in shares of ProPetro in the fourth quarter valued at about $1,889,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

ProPetro Price Performance

Shares of PUMP opened at $7.38 on Friday. 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 company’s fifty day moving average price is $8.43 and its 200-day moving average price is $8.43. ProPetro Holding Corp. has a 1-year low of $6.54 and a 1-year high of $11.17. The firm has a market capitalization of $760.87 million, a PE ratio of -5.50 and a beta of 2.03.

Analyst Ratings Changes

A number of brokerages recently commented on PUMP. 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. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. Barclays reduced their target price on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective on the stock in a research report on Friday, December 6th. Finally, Citigroup increased their target price on shares of ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.