ProPetro Holding Corp. to Post Q2 2024 Earnings of $0.05 Per Share, Atb Cap Markets Forecasts (NYSE:PUMP)

ProPetro Holding Corp. (NYSE:PUMP) – Equities researchers at Atb Cap Markets cut their Q2 2024 earnings estimates for ProPetro in a report released on Thursday, June 27th. Atb Cap Markets analyst W. Syed now expects that the company will post earnings per share of $0.05 for the quarter, down from their previous forecast of $0.09. The consensus estimate for ProPetro’s current full-year earnings is $0.64 per share. Atb Cap Markets also issued estimates for ProPetro’s Q3 2024 earnings at $0.14 EPS, FY2024 earnings at $0.44 EPS and Q1 2025 earnings at $0.18 EPS.

ProPetro (NYSE:PUMP) last released its earnings results on Wednesday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.10. ProPetro had a return on equity of 7.62% and a net margin of 4.76%. The firm had revenue of $405.84 million for the quarter, compared to the consensus estimate of $393.11 million. During the same period in the prior year, the firm earned $0.40 EPS. The firm’s revenue was down 4.2% on a year-over-year basis.

Several other equities research analysts have also issued reports on the stock. Barclays increased their target price on shares of ProPetro from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Benchmark reissued a “hold” rating on shares of ProPetro in a research note on Thursday, May 2nd.

ProPetro Trading Down 2.7 %

Shares of NYSE:PUMP opened at $8.44 on Monday. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.05. ProPetro has a 12-month low of $6.99 and a 12-month high of $11.37. The business has a 50 day moving average of $9.08 and a two-hundred day moving average of $8.38. The company has a market capitalization of $908.14 million, a PE ratio of 12.60 and a beta of 2.10.

Insiders Place Their Bets

In other news, Director Michele Vion sold 7,778 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $9.21, for a total value of $71,635.38. Following the sale, the director now directly owns 39,006 shares in the company, valued at $359,245.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Michele Vion sold 7,778 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $9.21, for a total value of $71,635.38. Following the transaction, the director now directly owns 39,006 shares of the company’s stock, valued at approximately $359,245.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Adam Munoz sold 42,573 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $9.28, for a total value of $395,077.44. Following the completion of the sale, the chief operating officer now directly owns 58,134 shares of the company’s stock, valued at $539,483.52. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.

Institutional Investors Weigh In On ProPetro

A number of hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC raised its position in ProPetro by 47.1% during the fourth quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock worth $66,000 after acquiring an additional 2,542 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in ProPetro in the fourth quarter valued at about $90,000. 9258 Wealth Management LLC purchased a new stake in ProPetro during the 1st quarter worth $100,000. Quadrant Capital Group LLC grew its position in shares of ProPetro by 60.0% during the fourth quarter. Quadrant Capital Group LLC now owns 12,136 shares of the company’s stock worth $102,000 after buying an additional 4,550 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in ProPetro in the fourth quarter valued at about $102,000. 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.