FY2024 EPS Estimates for ProPetro Reduced by Zacks Research

ProPetro Holding Corp. (NYSE:PUMP) – Stock analysts at Zacks Research reduced their FY2024 earnings per share estimates for shares of ProPetro in a research report issued on Monday, January 13th. Zacks Research analyst N. Choudhury now forecasts that the company will earn $0.26 per share for the year, down from their prior estimate 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 also recently issued reports on PUMP. Barclays cut their price objective on ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective for the company in a research note on Friday, December 6th. Stifel Nicolaus lowered their price objective 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. Finally, Citigroup increased their target price on ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.75.

ProPetro Stock Up 1.9 %

Shares of ProPetro stock opened at $10.48 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. ProPetro has a 12-month low of $6.53 and a 12-month high of $10.64. The firm has a market capitalization of $1.08 billion, a PE ratio of -7.88 and a beta of 2.00. The stock’s fifty day moving average is $8.83 and its 200-day moving average is $8.33.

Hedge Funds Weigh In On ProPetro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in shares of ProPetro by 95.4% during the 3rd quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock valued at $54,790,000 after purchasing an additional 3,491,723 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in ProPetro by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,095,253 shares of the company’s stock worth $61,515,000 after purchasing an additional 54,555 shares during the period. American Century Companies Inc. raised its position in shares of ProPetro by 21.3% in the second quarter. American Century Companies Inc. now owns 2,515,579 shares of the company’s stock valued at $21,810,000 after purchasing an additional 441,644 shares during the period. Encompass Capital Advisors LLC lifted its stake in shares of ProPetro by 2.4% in the second quarter. Encompass Capital Advisors LLC now owns 1,526,485 shares of the company’s stock worth $13,235,000 after buying an additional 36,339 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of ProPetro by 2.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,088,880 shares of the company’s stock worth $8,341,000 after buying an additional 28,660 shares during the period. Institutional investors own 84.70% of the company’s stock.

Insider Buying and Selling at ProPetro

In other news, CFO David Scott Schorlemer purchased 4,500 shares of ProPetro stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed 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.