FY2024 Earnings Estimate for ProPetro Holding Corp. (NYSE:PUMP) Issued By Atb Cap Markets

ProPetro Holding Corp. (NYSE:PUMP) – Analysts at Atb Cap Markets upped their FY2024 earnings per share (EPS) estimates for shares of ProPetro in a research report issued to clients and investors on Wednesday, May 1st. Atb Cap Markets analyst W. Syed now expects that the company will post earnings per share of $0.59 for the year, up from their previous forecast of $0.42. The consensus estimate for ProPetro’s current full-year earnings is $0.56 per share.

Several other research analysts also recently commented on PUMP. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a report on Thursday, May 2nd. TheStreet downgraded ProPetro from a “b-” rating to a “c+” rating in a report on Monday, January 8th. Finally, Barclays lifted their target price on ProPetro from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.33.

ProPetro Stock Up 3.3 %

Shares of PUMP opened at $9.60 on Monday. The company has a market capitalization of $1.03 billion, a PE ratio of 14.33 and a beta of 2.09. ProPetro has a 12 month low of $6.47 and a 12 month high of $11.37. The stock’s 50-day moving average price is $8.10 and its two-hundred day moving average price is $8.47. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.05.

ProPetro (NYSE:PUMP) last announced 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 firm had revenue of $405.84 million for 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%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 EPS.

Institutional Trading of ProPetro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PUMP. Signaturefd LLC increased its position in ProPetro by 47.1% in the 4th quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock valued at $66,000 after buying an additional 2,542 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in ProPetro in the 4th quarter valued at about $90,000. 9258 Wealth Management LLC bought a new stake in ProPetro in the 1st quarter valued at about $100,000. Quadrant Capital Group LLC increased its holdings in ProPetro by 60.0% during the 4th quarter. Quadrant Capital Group LLC now owns 12,136 shares of the company’s stock worth $102,000 after purchasing an additional 4,550 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in ProPetro during the 4th quarter worth approximately $102,000. 84.70% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Adam Munoz sold 42,573 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $9.28, for a total value of $395,077.44. Following the transaction, the chief operating officer now directly owns 58,134 shares of the company’s stock, valued at approximately $539,483.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by company insiders.

About ProPetro

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.