FY2024 EPS Estimates for ProPetro Raised by Zacks Research

ProPetro Holding Corp. (NYSE:PUMP) – Equities researchers at Zacks Research lifted their FY2024 earnings per share estimates for shares of ProPetro in a research report issued on Monday, December 9th. Zacks Research analyst N. Choudhury now expects that the company will post earnings per share of $0.27 for the year, up from their previous estimate of $0.26. The consensus estimate for ProPetro’s current full-year earnings is $0.28 per share. Zacks Research also issued estimates for ProPetro’s Q4 2024 earnings at $0.00 EPS, Q3 2025 earnings at $0.11 EPS, Q1 2026 earnings at $0.16 EPS and FY2026 earnings at $0.49 EPS.

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

ProPetro Stock Performance

ProPetro stock opened at $9.30 on Wednesday. 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 12 month low of $6.53 and a 12 month high of $10.02. The company has a fifty day moving average price of $7.99 and a two-hundred day moving average price of $8.23. The company has a market cap of $956.73 million, a PE ratio of -6.99 and a beta of 2.07.

Insider Activity at ProPetro

In related news, CFO David Scott Schorlemer acquired 4,500 shares of the stock in a transaction dated Monday, November 4th. The shares were acquired at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the purchase, the chief financial officer now owns 112,992 shares in the company, valued at approximately $775,125.12. The trade was a 4.15 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its stake in ProPetro by 5.8% in the 3rd quarter. Franklin Resources Inc. now owns 61,979 shares of the company’s stock valued at $513,000 after buying an additional 3,417 shares in the last quarter. Barclays PLC boosted its stake in shares of ProPetro by 109.2% in the 3rd 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 in the last quarter. XTX Topco Ltd increased its position in shares of ProPetro by 268.0% during the 3rd quarter. XTX Topco Ltd now owns 42,208 shares of the company’s stock worth $323,000 after purchasing an additional 30,737 shares in the last quarter. Weiss Asset Management LP acquired a new stake in ProPetro in the 3rd quarter valued at about $2,292,000. Finally, Quadrature Capital Ltd grew its stake in shares of ProPetro by 24.1% during the third quarter. Quadrature Capital Ltd now owns 20,252 shares of the company’s stock valued at $155,000 after purchasing an additional 3,927 shares during the last quarter. Institutional investors 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.