ProPetro Holding Corp. Expected to Post FY2023 Earnings of $1.03 Per Share (NYSE:PUMP)

ProPetro Holding Corp. (NYSE:PUMP) – Investment analysts at Atb Cap Markets decreased their FY2023 earnings per share estimates for ProPetro in a report issued on Wednesday, November 1st. Atb Cap Markets analyst W. Syed now forecasts that the company will earn $1.03 per share for the year, down from their previous estimate of $1.08. The consensus estimate for ProPetro’s current full-year earnings is $1.15 per share. Atb Cap Markets also issued estimates for ProPetro’s Q3 2024 earnings at $0.31 EPS, Q4 2024 earnings at $0.28 EPS, Q1 2025 earnings at $0.30 EPS, Q2 2025 earnings at $0.32 EPS and Q3 2025 earnings at $0.33 EPS.

PUMP has been the topic of a number of other research reports. TheStreet raised ProPetro from a “c” rating to a “b-” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reduced their price target on ProPetro from $17.00 to $16.00 in a research note on Wednesday, July 12th. Benchmark upgraded ProPetro from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Citigroup boosted their price target on ProPetro from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th. One analyst has rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.00.

ProPetro Trading Up 0.9 %

NYSE PUMP opened at $10.21 on Friday. The firm has a market cap of $1.15 billion, a P/E ratio of 10.01 and a beta of 2.47. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.28 and a quick ratio of 1.19. The stock’s 50-day moving average is $10.23 and its 200-day moving average is $8.99. ProPetro has a one year low of $6.33 and a one year high of $12.58.

ProPetro (NYSE:PUMP) last issued its earnings results on Wednesday, November 1st. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $423.80 million for the quarter, compared to analysts’ expectations of $405.46 million. ProPetro had a return on equity of 15.56% and a net margin of 7.10%. The company’s revenue was up 27.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share.

Insider Buying and Selling at ProPetro

In other ProPetro news, CAO Elo Omavuezi sold 4,182 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $10.28, for a total value of $42,990.96. Following the completion of the transaction, the chief accounting officer now directly owns 6,903 shares in the company, valued at $70,962.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other ProPetro news, COO Adam Munoz sold 21,467 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $10.09, for a total value of $216,602.03. Following the completion of the transaction, the chief operating officer now directly owns 48,287 shares in the company, valued at $487,215.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Elo Omavuezi sold 4,182 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $10.28, for a total value of $42,990.96. Following the completion of the transaction, the chief accounting officer now owns 6,903 shares of the company’s stock, valued at $70,962.84. The disclosure for this sale can be found here. Insiders sold 85,649 shares of company stock valued at $887,543 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On ProPetro

Large investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its stake in ProPetro by 3.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 36,885 shares of the company’s stock worth $304,000 after purchasing an additional 1,123 shares during the period. Tower Research Capital LLC TRC lifted its holdings in ProPetro by 14.0% during the third quarter. Tower Research Capital LLC TRC now owns 9,493 shares of the company’s stock worth $77,000 after acquiring an additional 1,163 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in ProPetro by 19.5% during the second quarter. Ameritas Investment Partners Inc. now owns 8,147 shares of the company’s stock worth $67,000 after acquiring an additional 1,327 shares during the period. Alliancebernstein L.P. raised its stake in shares of ProPetro by 1.2% in the fourth quarter. Alliancebernstein L.P. now owns 109,402 shares of the company’s stock valued at $1,134,000 after buying an additional 1,344 shares during the period. Finally, Advisor Partners II LLC raised its stake in shares of ProPetro by 7.1% in the fourth quarter. Advisor Partners II LLC now owns 20,505 shares of the company’s stock valued at $213,000 after buying an additional 1,358 shares during the period. 78.54% of the stock is currently owned by institutional investors.

ProPetro Company Profile

ProPetro Holding Corp., an integrated oilfield services 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.