Shell Asset Management Co. lowered its position in ProPetro Holding Corp. (NYSE:PUMP – Get Rating) by 21.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,493 shares of the company’s stock after selling 6,015 shares during the quarter. Shell Asset Management Co.’s holdings in ProPetro were worth $181,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its stake in ProPetro by 3.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 29,075 shares of the company’s stock valued at $234,000 after acquiring an additional 1,054 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of ProPetro by 14.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,493 shares of the company’s stock worth $77,000 after buying an additional 1,163 shares during the last quarter. Texas Permanent School Fund lifted its stake in shares of ProPetro by 2.0% during the 3rd quarter. Texas Permanent School Fund now owns 63,037 shares of the company’s stock worth $507,000 after buying an additional 1,256 shares during the last quarter. US Bancorp DE lifted its stake in shares of ProPetro by 25.1% during the 2nd quarter. US Bancorp DE now owns 6,310 shares of the company’s stock worth $63,000 after buying an additional 1,268 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of ProPetro by 18.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,365 shares of the company’s stock worth $67,000 after buying an additional 1,296 shares during the last quarter. Institutional investors and hedge funds own 88.58% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on PUMP shares. Benchmark started coverage on shares of ProPetro in a research note on Thursday, January 19th. They set a “hold” rating for the company. Citigroup cut shares of ProPetro from a “buy” rating to a “neutral” rating and set a $12.00 price objective for the company. in a research note on Tuesday, January 17th. Finally, Barclays upgraded shares of ProPetro from an “equal weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a research note on Tuesday, January 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.29.
ProPetro Trading Down 2.9 %
About ProPetro
ProPetro Holding Corp. is an oilfield services company that engages in the provision of hydraulic fracturing and other complementary services. It operates through the following segments: Hydraulic Fracturing, Cementing, Coil Tubing, Flowback, and Drilling. The Hydraulic Fracturing segment intends to optimize hydrocarbon flow paths during the completion phase of horizontal shale wellbores.
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