FY2024 EPS Estimates for ProPetro Raised by Zacks Research

ProPetro Holding Corp. (NYSE:PUMP) – Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of ProPetro in a research report issued on Monday, December 9th. Zacks Research analyst N. Choudhury now anticipates that the company will post earnings per share of $0.27 for the year, up from their previous forecast 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 brokerages have also recently commented on PUMP. 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. JPMorgan Chase & Co. upgraded shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target on the stock in a research report on Friday, December 6th. Citigroup cut their price objective on ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Stifel Nicolaus dropped their price target on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.25.

ProPetro Stock Up 4.1 %

ProPetro stock opened at $9.68 on Wednesday. The firm has a market capitalization of $995.85 million, a price-to-earnings ratio of -7.27 and a beta of 2.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20. ProPetro has a fifty-two week low of $6.53 and a fifty-two week high of $10.02. The stock’s fifty day moving average is $8.02 and its two-hundred day moving average is $8.24.

Insider Activity at ProPetro

In other news, CFO David Scott Schorlemer purchased 4,500 shares of the company’s stock in a transaction 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 completion of the purchase, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at $775,125.12. The trade was a 4.15 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On ProPetro

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in ProPetro by 84.3% in the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after purchasing an additional 1,473 shares in the last quarter. Quarry LP bought a new position in ProPetro during the second quarter valued at about $40,000. nVerses Capital LLC raised its holdings in shares of ProPetro by 226.3% in the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after purchasing an additional 4,300 shares in the last quarter. Chilton Capital Management LLC grew its holdings in shares of ProPetro by 87.1% in the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after acquiring an additional 4,000 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of ProPetro by 17.2% in the third quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after buying an additional 1,267 shares during the period. 84.70% of the stock is owned by institutional investors and hedge funds.

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.