ProPetro Holding Corp. (NYSE:PUMP) Short Interest Down 20.2% in March

ProPetro Holding Corp. (NYSE:PUMP) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 9,190,000 shares, a decline of 20.2% from the February 28th total of 11,510,000 shares. Currently, 11.7% of the shares of the company are sold short. Based on an average daily volume of 1,830,000 shares, the short-interest ratio is presently 5.0 days.

Institutional Trading of ProPetro

Several hedge funds have recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in ProPetro by 8.8% during the 4th quarter. American Century Companies Inc. now owns 3,236,135 shares of the company’s stock worth $30,193,000 after purchasing an additional 262,202 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of ProPetro by 57.3% during the fourth quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company’s stock worth $14,253,000 after purchasing an additional 556,747 shares in the last quarter. Sourcerock Group LLC purchased a new stake in ProPetro in the fourth quarter valued at approximately $14,079,000. Hotchkis & Wiley Capital Management LLC lifted its position in ProPetro by 2.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,088,880 shares of the company’s stock valued at $8,341,000 after purchasing an additional 28,660 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in ProPetro by 2.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,034,873 shares of the company’s stock worth $9,655,000 after buying an additional 27,086 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors.

ProPetro Trading Down 2.7 %

NYSE PUMP opened at $7.38 on Monday. ProPetro has a 12 month low of $6.54 and a 12 month high of $11.17. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $760.87 million, a P/E ratio of -5.50 and a beta of 2.03. The business has a fifty day simple moving average of $8.43 and a 200 day simple moving average of $8.45.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded 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 restated a “hold” rating on shares of ProPetro in a report on Thursday, February 20th. Stifel Nicolaus lifted their price target on ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Citigroup increased their price objective on ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Finally, Barclays decreased their price target on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.75.

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.