FY2024 EPS Estimates for ProPetro Cut by Zacks Research

ProPetro Holding Corp. (NYSE:PUMP) – Zacks Research decreased their FY2024 earnings per share estimates for ProPetro in a report released on Monday, January 13th. Zacks Research analyst N. Choudhury now forecasts that the company will post earnings of $0.26 per share for the year, down from their prior forecast of $0.27. The consensus estimate for ProPetro’s current full-year earnings is ($0.45) per share. Zacks Research also issued estimates for ProPetro’s Q1 2025 earnings at $0.06 EPS, Q1 2026 earnings at $0.15 EPS, Q2 2026 earnings at $0.14 EPS, Q3 2026 earnings at $0.06 EPS and FY2026 earnings at $0.47 EPS.

Several other research firms have also issued reports on PUMP. Stifel Nicolaus decreased 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. Citigroup boosted their price target on ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Barclays cut their price target on ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective on the stock in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.75.

ProPetro Trading Up 1.9 %

Shares of PUMP stock opened at $10.48 on Wednesday. The firm has a market capitalization of $1.08 billion, a P/E ratio of -7.88 and a beta of 2.00. ProPetro has a 1 year low of $6.53 and a 1 year high of $10.64. The firm’s fifty day simple moving average is $8.83 and its 200 day simple moving average is $8.33. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PUMP. GAMMA Investing LLC grew its holdings in shares of ProPetro by 38.0% in the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after purchasing an additional 1,225 shares during the last quarter. CWM LLC boosted its position in ProPetro by 17.2% in the third quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after buying an additional 1,267 shares in the last quarter. Victory Capital Management Inc. grew its stake in ProPetro by 1.8% during the second quarter. Victory Capital Management Inc. now owns 111,904 shares of the company’s stock worth $970,000 after buying an additional 1,990 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of ProPetro by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 37,392 shares of the company’s stock worth $324,000 after buying an additional 2,257 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of ProPetro by 8.9% in the second quarter. Federated Hermes Inc. now owns 29,912 shares of the company’s stock valued at $259,000 after acquiring an additional 2,446 shares during the last quarter. 84.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO David Scott Schorlemer purchased 4,500 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $6.86 per share, with a total value of $30,870.00. Following the purchase, the chief financial officer now directly owns 112,992 shares in the company, valued at $775,125.12. This represents a 4.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.88% of the company’s stock.

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.