ProPetro FY2024 EPS Estimate Decreased by Zacks Research

ProPetro Holding Corp. (NYSE:PUMP - Free Report) - Investment analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for shares of ProPetro in a report issued on Wednesday, December 11th. Zacks Research analyst N. Choudhury now expects that the company will post earnings of ($1.17) per share for the year, down from their prior forecast of $0.27. The consensus estimate for ProPetro's current full-year earnings is ($0.45) per share.

Several other research firms also recently commented on PUMP. Stifel Nicolaus decreased their target price on shares of ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, October 11th. Citigroup lowered their price target on shares of ProPetro from $8.50 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Barclays lowered their price objective on ProPetro from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Finally, 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 report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $10.25.

ProPetro Stock Down 0.1 %

Shares of NYSE PUMP traded down $0.01 during midday trading on Monday, hitting $9.11. 2,625,399 shares of the stock traded hands, compared to its average volume of 1,465,142. The company has a market cap of $937.69 million, a PE ratio of -6.85 and a beta of 2.07. The business has a 50 day moving average price of $8.06 and a two-hundred day moving average price of $8.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20. ProPetro has a one year low of $6.53 and a one year high of $10.02.

Insider Transactions at ProPetro

In related news, CFO David Scott Schorlemer purchased 4,500 shares of the firm's stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $6.86 per share, with a total value of $30,870.00. Following the acquisition, the chief financial officer now directly owns 112,992 shares of the company's stock, valued at approximately $775,125.12. This represents a 4.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.88% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PUMP. Pacer Advisors Inc. purchased a new position in shares of ProPetro during the 2nd quarter valued at about $31,741,000. Dana Investment Advisors Inc. bought a new position in ProPetro during the 2nd quarter worth approximately $6,439,000. Point72 Asset Management L.P. bought a new stake in shares of ProPetro in the third quarter worth about $3,525,000. American Century Companies Inc. increased its holdings in ProPetro by 21.3% during the 2nd quarter. American Century Companies Inc. now owns 2,515,579 shares of the company's stock valued at $21,810,000 after purchasing an additional 441,644 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in ProPetro in the 3rd quarter worth approximately $2,292,000. Institutional investors own 84.70% 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.