FY2024 EPS Estimates for ProPetro Cut by Zacks Research

ProPetro Holding Corp. (NYSE:PUMP) – Equities researchers at Zacks Research reduced their FY2024 earnings per share estimates for shares of ProPetro in a research note issued on Monday, January 13th. Zacks Research analyst N. Choudhury now forecasts that the company will post earnings of $0.26 per share for the year, down from their previous forecast of $0.27. The consensus estimate for ProPetro’s current full-year earnings is $0.27 per share. Zacks Research also issued estimates for ProPetro’s Q1 2025 earnings at $0.06 EPS, Q1 2026 earnings at $0.15 EPS, Q2 2026 earnings at $0.14 EPS, Q3 2026 earnings at $0.06 EPS and FY2026 earnings at $0.47 EPS.

Other equities research analysts have also issued reports about the company. 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 report on Friday, December 6th. Citigroup lifted their price target on ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Barclays reduced their price target on ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Stifel Nicolaus reduced their price target on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, October 11th. Three 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 company has an average rating of “Hold” and a consensus price target of $10.75.

ProPetro Stock Up 2.4 %

Shares of ProPetro stock opened at $10.98 on Wednesday. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -8.25 and a beta of 2.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14. ProPetro has a 52-week low of $6.53 and a 52-week high of $11.07. The stock has a 50-day simple moving average of $8.93 and a 200-day simple moving average of $8.37.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PUMP. GAMMA Investing LLC lifted its holdings in shares of 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 second quarter worth approximately $40,000. nVerses Capital LLC lifted its holdings in shares of ProPetro by 226.3% during the third quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after buying an additional 4,300 shares during the last quarter. CWM LLC lifted its holdings in shares of ProPetro by 17.2% during the third quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after buying an additional 1,267 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of ProPetro during the third quarter worth approximately $77,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO David Scott Schorlemer bought 4,500 shares of ProPetro stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $6.86 per share, for a total transaction 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 trade represents a 4.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.97% 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.