FY2024 EPS Estimates for ProPetro Reduced by Atb Cap Markets

ProPetro Holding Corp. (NYSE:PUMP) – Research analysts at Atb Cap Markets dropped their FY2024 earnings per share estimates for ProPetro in a research report issued on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now anticipates that the company will post earnings of $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 topic of a number of other research reports. JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target on the stock in a research report on Friday, December 6th. Citigroup decreased their price objective on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Barclays cut their price target on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus dropped their price objective on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.25.

ProPetro Price Performance

PUMP stock opened at $9.12 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 52-week low of $6.53 and a 52-week high of $10.02. The company has a market capitalization of $938.72 million, a P/E ratio of -6.86 and a beta of 2.07. The company has a fifty day moving average price of $8.06 and a 200-day moving average price of $8.23.

Insider Activity

In other ProPetro news, CFO David Scott Schorlemer bought 4,500 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in ProPetro by 84.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after purchasing an additional 1,473 shares during the period. Quarry LP bought a new position in ProPetro in the 2nd quarter valued at $40,000. nVerses Capital LLC increased its holdings in shares of ProPetro by 226.3% in the third quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after purchasing an additional 4,300 shares during the period. CWM LLC increased its stake in ProPetro by 17.2% in the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after acquiring an additional 1,267 shares during the last quarter. Finally, Chilton Capital Management LLC boosted its position in shares of ProPetro by 87.1% during the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock valued at $75,000 after acquiring an additional 4,000 shares during the last quarter. 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.