FY2024 EPS Estimates for ProPetro Holding Corp. Increased by Analyst (NYSE:PUMP)

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

ProPetro (NYSE:PUMP) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.10. ProPetro had a net margin of 4.76% and a return on equity of 7.62%. The company had revenue of $405.84 million during the quarter, compared to analyst estimates of $393.11 million. During the same quarter in the previous year, the business earned $0.40 EPS. The firm’s revenue was down 4.2% on a year-over-year basis.

A number of other research firms have also commented on PUMP. Barclays raised their price target on ProPetro from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday. Benchmark restated a “hold” rating on shares of ProPetro in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, ProPetro presently has a consensus rating of “Hold” and an average target price of $13.33.

ProPetro Stock Performance

PUMP stock opened at $9.47 on Monday. ProPetro has a 1-year low of $6.47 and a 1-year high of $11.37. The business’s 50-day moving average price is $8.14 and its two-hundred day moving average price is $8.46. The firm has a market cap of $1.01 billion, a PE ratio of 14.13 and a beta of 2.09. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PUMP. Signaturefd LLC increased its position in shares of ProPetro by 47.1% during the 4th quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock worth $66,000 after purchasing an additional 2,542 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of ProPetro in the fourth quarter valued at $90,000. Versor Investments LP acquired a new position in ProPetro during the third quarter worth $129,000. Quadrant Capital Group LLC raised its position in ProPetro by 60.0% during the fourth quarter. Quadrant Capital Group LLC now owns 12,136 shares of the company’s stock worth $102,000 after acquiring an additional 4,550 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in ProPetro in the fourth quarter valued at $102,000. Institutional investors own 84.70% of the company’s stock.

Insider Buying and Selling at ProPetro

In other ProPetro news, COO Adam Munoz sold 42,573 shares of the business’s stock in a transaction that occurred 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 owns 58,134 shares in the company, valued at approximately $539,483.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.97% 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.