FY2024 EPS Estimates for ProPetro Cut by Zacks Research

ProPetro Holding Corp. (NYSE:PUMP) – Analysts at Zacks Research reduced their FY2024 earnings per share estimates for ProPetro in a research report issued to clients and investors 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 estimate of $0.27. The consensus estimate for ProPetro’s current full-year earnings is $0.27 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.

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus lowered their price objective on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target on the stock in a research report on Friday, December 6th. Barclays lowered their price target on ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Citigroup upped their price target on ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, ProPetro presently has a consensus rating of “Hold” and an average target price of $10.75.

ProPetro Stock Performance

PUMP opened at $10.98 on Wednesday. The stock has a market cap of $1.13 billion, a PE ratio of -8.25 and a beta of 2.00. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.05. ProPetro has a 1 year low of $6.53 and a 1 year high of $11.07. The stock’s 50 day simple moving average is $8.93 and its 200-day simple moving average is $8.37.

Institutional Trading of ProPetro

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in ProPetro by 109.2% in the third quarter. Barclays PLC now owns 242,057 shares of the company’s stock valued at $1,855,000 after acquiring an additional 126,346 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in ProPetro by 209.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 272,374 shares of the company’s stock valued at $2,115,000 after acquiring an additional 184,273 shares during the last quarter. Point72 Asset Management L.P. bought a new position in ProPetro in the third quarter valued at about $3,525,000. Pacer Advisors Inc. boosted its holdings in ProPetro by 95.4% in the third quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock valued at $54,790,000 after acquiring an additional 3,491,723 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in ProPetro in the third quarter valued at about $1,013,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other ProPetro news, CFO David Scott Schorlemer bought 4,500 shares of the stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the purchase, the chief financial officer now owns 112,992 shares in the company, valued at $775,125.12. This represents a 4.15 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

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.