Atb Cap Markets Analysts Decrease Earnings Estimates for ProPetro Holding Corp. (NYSE:PUMP)

ProPetro Holding Corp. (NYSE:PUMP) – Analysts at Atb Cap Markets dropped their Q2 2024 earnings per share (EPS) estimates for shares of ProPetro in a research note issued to investors on Thursday, June 27th. Atb Cap Markets analyst W. Syed now forecasts 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 posted its earnings results on Wednesday, May 1st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.08 by $0.10. The business had revenue of $405.84 million during the quarter, compared to the consensus estimate of $393.11 million. ProPetro had a return on equity of 7.62% and a net margin of 4.76%. ProPetro’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS.

Other equities analysts also recently issued research reports about the company. Benchmark reiterated a “hold” rating on shares of ProPetro in a research report on Thursday, May 2nd. Barclays lifted their price objective on ProPetro from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, May 6th.

ProPetro Trading Up 2.5 %

Shares of PUMP opened at $8.67 on Monday. The stock has a fifty day moving average price of $9.08 and a two-hundred day moving average price of $8.38. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.12 and a current ratio of 1.18. ProPetro has a 52-week low of $6.99 and a 52-week high of $11.37. The company has a market cap of $932.89 million, a price-to-earnings ratio of 12.94 and a beta of 2.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund grew its stake in ProPetro by 4.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 56,195 shares of the company’s stock valued at $471,000 after acquiring an additional 2,171 shares during the period. Hsbc Holdings PLC grew its stake in ProPetro by 7.4% in the third quarter. Hsbc Holdings PLC now owns 31,415 shares of the company’s stock valued at $334,000 after acquiring an additional 2,172 shares during the period. Signaturefd LLC grew its stake in ProPetro by 47.1% in the fourth quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock valued at $66,000 after acquiring an additional 2,542 shares during the period. Price T Rowe Associates Inc. MD grew its stake in ProPetro by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 27,618 shares of the company’s stock valued at $224,000 after acquiring an additional 3,687 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in ProPetro by 60.0% in the fourth quarter. Quadrant Capital Group LLC now owns 12,136 shares of the company’s stock valued at $102,000 after acquiring an additional 4,550 shares during the period. 84.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michele Vion sold 7,778 shares of ProPetro 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 completion of the sale, 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 can be accessed through this link. In related news, Director Michele Vion sold 7,778 shares of ProPetro stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $9.21, for a total transaction of $71,635.38. Following the completion of the sale, the director now directly owns 39,006 shares of the company’s stock, valued at $359,245.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Adam Munoz sold 42,573 shares of ProPetro stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $9.28, for a total value of $395,077.44. Following 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. 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.