ProPetro Holding Corp. (NYSE:PUMP) to Post Q4 2023 Earnings of $0.12 Per Share, Atb Cap Markets Forecasts

ProPetro Holding Corp. (NYSE:PUMP) – Research analysts at Atb Cap Markets lowered their Q4 2023 earnings estimates for ProPetro in a report released on Wednesday, November 1st. Atb Cap Markets analyst W. Syed now anticipates that the company will post earnings of $0.12 per share for the quarter, down from their previous forecast of $0.22. The consensus estimate for ProPetro’s current full-year earnings is $1.13 per share. Atb Cap Markets also issued estimates for ProPetro’s Q1 2024 earnings at $0.16 EPS, Q2 2024 earnings at $0.24 EPS, FY2024 earnings at $0.98 EPS and FY2025 earnings at $1.26 EPS.

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus decreased their target price on shares of ProPetro from $17.00 to $16.00 in a report on Wednesday, July 12th. Benchmark raised shares of ProPetro from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Citigroup lifted their target price on shares of ProPetro from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Finally, TheStreet raised shares of ProPetro from a “c” rating to a “b-” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.00.

ProPetro Stock Up 1.0 %

Shares of ProPetro stock opened at $10.22 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.19 and a current ratio of 1.28. The stock has a market capitalization of $1.15 billion, a PE ratio of 10.02 and a beta of 2.47. ProPetro has a 52-week low of $6.33 and a 52-week high of $12.58. The company has a 50-day simple moving average of $10.23 and a two-hundred day simple moving average of $9.01.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Cetera Advisor Networks LLC bought a new stake in ProPetro during the first quarter valued at about $351,000. MetLife Investment Management LLC raised its holdings in ProPetro by 114.9% during the first quarter. MetLife Investment Management LLC now owns 45,719 shares of the company’s stock valued at $637,000 after acquiring an additional 24,447 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in ProPetro by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 73,075 shares of the company’s stock valued at $1,018,000 after acquiring an additional 9,010 shares during the period. Dimensional Fund Advisors LP raised its holdings in ProPetro by 16.6% during the first quarter. Dimensional Fund Advisors LP now owns 5,002,856 shares of the company’s stock valued at $69,691,000 after acquiring an additional 713,904 shares during the period. Finally, Vanguard Group Inc. raised its holdings in ProPetro by 0.9% during the first quarter. Vanguard Group Inc. now owns 9,682,636 shares of the company’s stock valued at $134,880,000 after acquiring an additional 83,813 shares during the period. Institutional investors own 78.54% of the company’s stock.

Insider Activity

In related news, Director Phillip A. Gobe sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $10.01, for a total transaction of $200,200.00. Following the completion of the sale, the director now directly owns 203,629 shares in the company, valued at $2,038,326.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Elo Omavuezi sold 4,182 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $10.28, for a total transaction of $42,990.96. Following the completion of the sale, the chief accounting officer now directly owns 6,903 shares in the company, valued at $70,962.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Phillip A. Gobe sold 20,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $10.01, for a total transaction of $200,200.00. Following the completion of the sale, the director now directly owns 203,629 shares of the company’s stock, valued at $2,038,326.29. The disclosure for this sale can be found here. Insiders sold 85,649 shares of company stock valued at $887,543 over the last three months. Insiders own 0.88% of the company’s stock.

About ProPetro

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.