FY2024 EPS Estimates for ProPetro Decreased by Analyst

ProPetro Holding Corp. (NYSE:PUMP - Free Report) - Stock analysts at Atb Cap Markets cut their FY2024 earnings per share estimates for ProPetro in a report released on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now forecasts that the company will earn $0.26 per share for the year, down from their previous estimate of $0.30. The consensus estimate for ProPetro's current full-year earnings is $0.29 per share. Atb Cap Markets also issued estimates for ProPetro's Q4 2024 earnings at ($0.02) EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.17 EPS, Q3 2025 earnings at $0.18 EPS, Q4 2025 earnings at $0.04 EPS, FY2025 earnings at $0.52 EPS, Q2 2026 earnings at $0.23 EPS, Q3 2026 earnings at $0.24 EPS, FY2026 earnings at $0.78 EPS and FY2027 earnings at $0.93 EPS.

PUMP has been the subject of a number of other research reports. Barclays decreased their target price on shares of ProPetro from $13.00 to $12.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. Stifel Nicolaus cut their target price on ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, October 11th. 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 note on Friday, December 6th. Finally, Citigroup lowered their price objective on ProPetro from $8.50 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $10.25.

ProPetro Price Performance

PUMP stock traded down $0.29 on Friday, hitting $9.13. 2,712,374 shares of the company's stock traded hands, compared to its average volume of 1,460,243. The stock has a market cap of $939.24 million, a price-to-earnings ratio of -6.86 and a beta of 2.07. ProPetro has a 1-year low of $6.53 and a 1-year high of $10.02. The stock has a fifty day moving average of $8.06 and a 200-day moving average of $8.24. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.05.

Institutional Trading of ProPetro

Several hedge funds and other institutional investors have recently modified their holdings of PUMP. GAMMA Investing LLC increased its position in ProPetro by 84.3% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company's stock worth $25,000 after buying an additional 1,473 shares during the last quarter. Quarry LP acquired a new position in shares of ProPetro during the 2nd quarter worth approximately $40,000. nVerses Capital LLC increased its holdings in shares of ProPetro by 226.3% during the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company's stock worth $47,000 after acquiring an additional 4,300 shares during the last quarter. CWM LLC lifted its holdings in ProPetro by 17.2% during the 3rd quarter. CWM LLC now owns 8,624 shares of the company's stock valued at $66,000 after purchasing an additional 1,267 shares during the last quarter. Finally, Chilton Capital Management LLC boosted its position in ProPetro by 87.1% during the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company's stock worth $75,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds own 84.70% of the company's stock.

Insider Buying and Selling at ProPetro

In other ProPetro news, CFO David Scott Schorlemer acquired 4,500 shares of the company's stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $6.86 per share, with a total value of $30,870.00. Following the purchase, the chief financial officer now owns 112,992 shares of the company's stock, valued at $775,125.12. This represents a 4.15 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.88% of the company's stock.

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.