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

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

PUMP has been the topic of a number of other reports. TheStreet cut shares of ProPetro from a “b-” rating to a “c+” rating in a research report on Monday, January 8th. Barclays lifted their price objective on shares of ProPetro from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Benchmark reiterated a “hold” rating on shares of ProPetro in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $13.33.

ProPetro Trading Up 3.3 %

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

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

Institutional Trading of ProPetro

A number of hedge funds and other institutional investors have recently made changes to their positions in PUMP. SG Americas Securities LLC bought a new stake in ProPetro during the third quarter valued at $145,000. Raymond James & Associates boosted its holdings in shares of ProPetro by 11.9% during the third quarter. Raymond James & Associates now owns 109,595 shares of the company’s stock valued at $1,165,000 after acquiring an additional 11,686 shares during the period. Bailard Inc. acquired a new position in shares of ProPetro during the third quarter valued at $267,000. New York State Teachers Retirement System boosted its holdings in shares of ProPetro by 7.6% during the third quarter. New York State Teachers Retirement System now owns 104,464 shares of the company’s stock valued at $1,110,000 after acquiring an additional 7,343 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of ProPetro by 15.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,512 shares of the company’s stock valued at $463,000 after acquiring an additional 5,861 shares during the period. Institutional investors own 84.70% of the company’s stock.

Insider Activity

In related news, COO Adam Munoz sold 42,573 shares of ProPetro stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $9.28, for a total value of $395,077.44. Following the completion of the sale, the chief operating officer now owns 58,134 shares in the company, valued at $539,483.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.