FY2024 EPS Estimates for ProPetro Boosted by Atb Cap Markets

ProPetro Holding Corp. (NYSE:PUMP) – Stock analysts at Atb Cap Markets upped their FY2024 earnings per share estimates for ProPetro in a report issued on Wednesday, October 30th. Atb Cap Markets analyst W. Syed now expects that the company will earn $0.30 per share for the year, up from their previous estimate 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.

A number of other equities analysts have also weighed in on PUMP. Citigroup decreased their target price on ProPetro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus lowered their target price on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, Barclays cut their price target on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

ProPetro Stock Up 7.0 %

Shares of NYSE PUMP opened at $7.04 on Monday. The business has a 50-day simple moving average of $7.78 and a two-hundred day simple moving average of $8.43. The company has a quick ratio of 1.04, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. ProPetro has a 52 week low of $6.53 and a 52 week high of $10.32. The company has a market cap of $733.30 million, a P/E ratio of -5.29 and a beta of 2.04.

Hedge Funds Weigh In On ProPetro

Several hedge funds and other institutional investors have recently modified their holdings of PUMP. GAMMA Investing LLC grew its position in shares of 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 buying an additional 1,473 shares during the last quarter. Quarry LP bought a new position in ProPetro in the second quarter worth about $40,000. nVerses Capital LLC lifted its holdings in 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 buying an additional 4,300 shares during the period. CWM LLC grew its stake in ProPetro by 17.2% in the third quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after purchasing an additional 1,267 shares during the period. Finally, Chilton Capital Management LLC raised its holdings in ProPetro by 87.1% in the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after purchasing an additional 4,000 shares in the last quarter. 84.70% of the stock is owned by institutional investors.

Insider Activity at ProPetro

In other ProPetro 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 purchase, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO David Scott Schorlemer bought 4,500 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was bought 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 directly owns 112,992 shares of the company’s stock, valued at $775,125.12. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michele Vion sold 5,000 shares of ProPetro stock in a transaction that occurred on Monday, August 26th. The stock was 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 in the company, valued at $280,889.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

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.