Atb Cap Markets Analysts Raise Earnings Estimates for ProPetro Holding Corp. (NYSE:PUMP)

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

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

ProPetro Stock Performance

Shares of PUMP stock opened at $9.47 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.18 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $8.14 and a two-hundred day moving average of $8.46. The company has a market cap of $1.01 billion, a P/E ratio of 14.13 and a beta of 2.09. ProPetro has a 52 week low of $6.47 and a 52 week high of $11.37.

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

Insider Activity at ProPetro

In related news, COO Adam Munoz sold 42,573 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 58,134 shares in the company, valued at approximately $539,483.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.97% of the stock is owned by insiders.

Institutional Investors Weigh In On ProPetro

Institutional investors have recently added to or reduced their stakes in the company. Kennedy Capital Management LLC acquired a new position in shares of ProPetro in the 3rd quarter worth approximately $7,492,000. First Dallas Securities Inc. bought a new position in shares of ProPetro in the third quarter valued at $4,933,000. Hartree Partners LP acquired a new stake in shares of ProPetro during the first quarter worth $3,259,000. Dimensional Fund Advisors LP lifted its holdings in shares of ProPetro by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company’s stock valued at $61,120,000 after purchasing an additional 378,379 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in shares of ProPetro in the 3rd quarter valued at $2,853,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

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.