ProPetro FY2024 EPS Estimate Lowered by Atb Cap Markets

ProPetro Holding Corp. (NYSE:PUMP) – Atb Cap Markets decreased their FY2024 earnings estimates for shares of ProPetro in a report issued on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now expects that the company will post earnings per share of $0.26 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.

Several other analysts have also issued reports on PUMP. JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective for the company in a report on Friday, December 6th. Citigroup cut their price target on ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Barclays dropped their price objective on ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Stifel Nicolaus reduced their target price on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Three equities 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 company currently has an average rating of “Hold” and a consensus price target of $10.25.

ProPetro Stock Down 2.6 %

Shares of NYSE PUMP opened at $9.42 on Friday. 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. The business has a 50-day moving average price of $8.05 and a two-hundred day moving average price of $8.25.

Hedge Funds Weigh In On ProPetro

Institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in ProPetro by 5.8% during the third quarter. Franklin Resources Inc. now owns 61,979 shares of the company’s stock worth $513,000 after buying an additional 3,417 shares during the last quarter. Barclays PLC increased its position in shares of ProPetro by 109.2% in the third quarter. Barclays PLC now owns 242,057 shares of the company’s stock worth $1,855,000 after purchasing an additional 126,346 shares during the period. XTX Topco Ltd raised its stake in ProPetro by 268.0% in the third quarter. XTX Topco Ltd now owns 42,208 shares of the company’s stock valued at $323,000 after purchasing an additional 30,737 shares in the last quarter. Weiss Asset Management LP bought a new stake in ProPetro during the third quarter worth about $2,292,000. Finally, Quadrature Capital Ltd grew its stake in ProPetro by 24.1% during the third quarter. Quadrature Capital Ltd now owns 20,252 shares of the company’s stock worth $155,000 after buying an additional 3,927 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO David Scott Schorlemer acquired 4,500 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was bought 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 owns 112,992 shares in the company, valued at $775,125.12. This represents a 4.15 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.88% of the company’s stock.

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.