Atb Cap Markets Reduces Earnings Estimates for ProPetro

ProPetro Holding Corp. (NYSE:PUMP) – Investment analysts at Atb Cap Markets cut their FY2024 earnings per share estimates for shares of ProPetro in a research note issued on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now expects that the company will post earnings of $0.26 per share 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.

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

ProPetro Stock Down 3.1 %

Shares of PUMP stock opened at $9.13 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20. The stock’s 50 day simple moving average is $8.06 and its 200 day simple moving average is $8.24. The company has a market capitalization of $939.24 million, a price-to-earnings ratio of -6.86 and a beta of 2.07. ProPetro has a twelve month low of $6.53 and a twelve month high of $10.02.

Insider Activity at ProPetro

In related news, CFO David Scott Schorlemer acquired 4,500 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the acquisition, the chief financial officer now owns 112,992 shares of the company’s stock, valued at $775,125.12. This trade represents a 4.15 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ProPetro

Large investors have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 1,473 shares in the last quarter. Quarry LP acquired a new position in shares of ProPetro during the second quarter worth about $40,000. nVerses Capital LLC boosted its position in shares of ProPetro by 226.3% during the third quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after buying an additional 4,300 shares during the period. CWM LLC boosted its position in shares of ProPetro by 17.2% during 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. Finally, Chilton Capital Management LLC boosted its position in shares of ProPetro by 87.1% during the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after buying an additional 4,000 shares during the period. 84.70% of the stock is currently owned by institutional investors.

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.