New Age Alpha Advisors LLC Invests $1.02 Million in ProPetro Holding Corp. (NYSE:PUMP)

New Age Alpha Advisors LLC acquired a new position in ProPetro Holding Corp. (NYSE:PUMP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 109,283 shares of the company’s stock, valued at approximately $1,020,000.

A number of other hedge funds have also bought and sold shares of the business. Smartleaf Asset Management LLC increased its position in shares of ProPetro by 205.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock valued at $28,000 after buying an additional 2,005 shares during the period. 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 increased its holdings in 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 acquiring an additional 3,821 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in ProPetro in the 3rd quarter valued at $77,000. Finally, Raymond James Financial Inc. purchased a new position in shares of ProPetro during the 4th quarter valued at $94,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PUMP has been the topic of a number of recent analyst reports. Benchmark reiterated a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target for the company in a research report on Friday, December 6th. Barclays cut their price objective on ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Citigroup raised their target price on shares of ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus increased their price target on shares of ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, February 21st. 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 has a consensus rating of “Hold” and an average price target of $10.75.

ProPetro Stock Performance

NYSE:PUMP opened at $7.38 on Tuesday. ProPetro Holding Corp. has a 1-year low of $6.54 and a 1-year 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 business has a 50 day moving average of $8.36 and a 200 day moving average of $8.45. The company has a market capitalization of $760.87 million, a price-to-earnings ratio of -5.50 and a beta of 2.03.

ProPetro Company 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.