ProPetro FY2024 EPS Estimate Reduced by Atb Cap Markets

ProPetro Holding Corp. (NYSE:PUMP) – Stock analysts at Atb Cap Markets reduced their FY2024 EPS estimates for ProPetro in a research report issued on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now forecasts that the company will post earnings per share of $0.26 for the year, down from their previous forecast 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.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price on the stock in a research note on Friday, December 6th. Barclays cut their price objective on ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Stifel Nicolaus dropped their target price on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Finally, Citigroup reduced their price target on ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, ProPetro presently has a consensus rating of “Hold” and a consensus price target of $10.25.

ProPetro Stock Performance

Shares of NYSE PUMP opened at $9.12 on Friday. ProPetro has a 52-week low of $6.53 and a 52-week high of $10.02. The stock has a market capitalization of $938.72 million, a price-to-earnings ratio of -6.86 and a beta of 2.07. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $8.06 and its 200 day simple moving average is $8.23.

Hedge Funds Weigh In On ProPetro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PUMP. Point72 Asset Management L.P. acquired a new stake in shares of ProPetro during the third quarter worth $3,525,000. Pacer Advisors Inc. increased its holdings in shares of ProPetro by 95.4% during the 3rd quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock worth $54,790,000 after acquiring an additional 3,491,723 shares during the last quarter. SG Americas Securities LLC bought a new stake in ProPetro in the 2nd quarter valued at $746,000. Exchange Traded Concepts LLC acquired a new position in shares of ProPetro in the third quarter valued at about $1,013,000. Finally, Creative Planning boosted its holdings in ProPetro by 80.0% in the 3rd quarter. Creative Planning now owns 57,238 shares of the company’s stock valued at $438,000 after purchasing an additional 25,445 shares during the period. Institutional investors own 84.70% of the company’s stock.

Insiders Place Their Bets

In other news, CFO David Scott Schorlemer acquired 4,500 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the transaction, the chief financial officer now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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.