Zacks Research Increases Earnings Estimates for ProPetro

ProPetro Holding Corp. (NYSE:PUMP) – Equities researchers at Zacks Research increased their FY2024 earnings per share (EPS) estimates for shares of ProPetro in a note issued to investors on Monday, December 9th. Zacks Research analyst N. Choudhury now anticipates that the company will earn $0.27 per share for the year, up from their previous estimate of $0.26. The consensus estimate for ProPetro’s current full-year earnings is $0.28 per share. Zacks Research also issued estimates for ProPetro’s Q4 2024 earnings at $0.00 EPS, Q3 2025 earnings at $0.11 EPS, Q1 2026 earnings at $0.16 EPS and FY2026 earnings at $0.49 EPS.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective for the company in a research report on Friday, December 6th. Stifel Nicolaus dropped their price objective on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Barclays lowered their price objective on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Citigroup decreased their price target on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Three equities research 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, ProPetro has an average rating of “Hold” and a consensus price target of $10.25.

ProPetro Price Performance

NYSE:PUMP opened at $9.68 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. The firm has a market cap of $995.85 million, a PE ratio of -7.27 and a beta of 2.07. The company’s 50-day moving average price is $8.02 and its two-hundred day moving average price is $8.24. ProPetro has a 12 month low of $6.53 and a 12 month high of $10.02.

Insider Buying and Selling at ProPetro

In other ProPetro news, CFO David Scott Schorlemer bought 4,500 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were purchased at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the transaction, the chief financial officer now directly owns 112,992 shares in the company, valued at approximately $775,125.12. This trade represents a 4.15 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On ProPetro

Several institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new position in ProPetro in the 3rd quarter valued at $3,525,000. Pacer Advisors Inc. lifted its position in ProPetro by 95.4% during the third quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock worth $54,790,000 after purchasing an additional 3,491,723 shares during the period. SG Americas Securities LLC acquired a new stake in ProPetro during the second quarter worth about $746,000. Exchange Traded Concepts LLC bought a new position in ProPetro in the 3rd quarter valued at about $1,013,000. Finally, Creative Planning raised its position in shares of ProPetro by 80.0% in the 3rd quarter. Creative Planning now owns 57,238 shares of the company’s stock valued at $438,000 after buying an additional 25,445 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors.

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.