FY2024 EPS Estimates for ProPetro Decreased by Analyst

ProPetro Holding Corp. (NYSE:PUMP) – Stock analysts at Zacks Research decreased their FY2024 earnings estimates for shares of ProPetro in a research report issued to clients and investors on Monday, January 13th. Zacks Research analyst N. Choudhury now expects that the company will post earnings per share of $0.26 for the year, down from their prior estimate of $0.27. The consensus estimate for ProPetro’s current full-year earnings is ($0.45) 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.

PUMP has been the subject of several other reports. Barclays decreased their price target on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target for the company in a research note on Friday, December 6th. Stifel Nicolaus cut their price objective on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Finally, Citigroup boosted their price target on shares of ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.75.

ProPetro Price Performance

PUMP opened at $10.74 on Wednesday. The company has a 50-day moving average of $8.87 and a 200-day moving average of $8.35. The company has a market capitalization of $1.11 billion, a P/E ratio of -8.08 and a beta of 2.00. ProPetro has a 1-year low of $6.53 and a 1-year high of $10.84. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in ProPetro by 38.0% in the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after purchasing an additional 1,225 shares in the last quarter. JPMorgan Chase & Co. grew its stake in ProPetro by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 97,736 shares of the company’s stock worth $749,000 after buying an additional 5,198 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in ProPetro by 209.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 272,374 shares of the company’s stock worth $2,115,000 after buying an additional 184,273 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of ProPetro by 5.8% during the third quarter. Franklin Resources Inc. now owns 61,979 shares of the company’s stock valued at $513,000 after purchasing an additional 3,417 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of ProPetro by 109.2% during the third quarter. Barclays PLC now owns 242,057 shares of the company’s stock valued at $1,855,000 after purchasing an additional 126,346 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

Insiders Place Their Bets

In related news, CFO David Scott Schorlemer acquired 4,500 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was acquired at an average price of $6.86 per share, with a total value of $30,870.00. Following the completion of 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.88% 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.