FY2024 EPS Estimate for ProPetro Increased by Analyst

ProPetro Holding Corp. (NYSE:PUMP - Free Report) - Atb Cap Markets lifted their FY2024 earnings per share (EPS) estimates for ProPetro in a research report issued on Wednesday, October 30th. Atb Cap Markets analyst W. Syed now expects that the company will post earnings per share of $0.30 for the year, up from their prior forecast of $0.11. The consensus estimate for ProPetro's current full-year earnings is $0.17 per share. Atb Cap Markets also issued estimates for ProPetro's Q4 2024 earnings at $0.02 EPS.

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, October 11th. Barclays lowered their price target on shares of ProPetro from $13.00 to $12.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Finally, Citigroup decreased their target price on ProPetro from $8.50 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.33.

ProPetro Stock Performance

PUMP traded up $0.46 during trading hours on Monday, reaching $7.04. The company's stock had a trading volume of 2,018,270 shares, compared to its average volume of 1,446,345. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.20. The company's 50-day moving average is $7.78 and its 200-day moving average is $8.43. ProPetro has a 52 week low of $6.53 and a 52 week high of $10.32. The firm has a market cap of $733.30 million, a PE ratio of -5.29 and a beta of 2.04.

Insiders Place Their Bets

In related news, CFO David Scott Schorlemer purchased 4,500 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the purchase, the chief financial officer now owns 112,992 shares in the company, valued at approximately $775,125.12. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO David Scott Schorlemer purchased 4,500 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the transaction, the chief financial officer now owns 112,992 shares of the company's stock, valued at approximately $775,125.12. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michele Vion sold 5,000 shares of the business's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $8.26, for a total value of $41,300.00. Following the completion of the transaction, the director now directly owns 34,006 shares of the company's stock, valued at approximately $280,889.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company's stock.

Institutional Trading of ProPetro

Several large investors have recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in ProPetro in the second quarter valued at about $31,741,000. Dana Investment Advisors Inc. acquired a new stake in shares of ProPetro in the 2nd quarter valued at approximately $6,439,000. American Century Companies Inc. grew its holdings in shares of 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 last quarter. Susquehanna Fundamental Investments LLC increased its position in ProPetro by 441.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 303,971 shares of the company's stock worth $2,635,000 after purchasing an additional 247,860 shares in the last quarter. Finally, AXA S.A. lifted its stake in ProPetro by 963.9% in the 2nd quarter. AXA S.A. now owns 181,929 shares of the company's stock valued at $1,577,000 after purchasing an additional 164,829 shares during the last quarter. Institutional investors and hedge funds 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.