ProPetro Holding Corp. (NYSE:PUMP) to Post Q2 2024 Earnings of $0.05 Per Share, Atb Cap Markets Forecasts

ProPetro Holding Corp. (NYSE:PUMP) – Research analysts at Atb Cap Markets decreased their Q2 2024 EPS estimates for shares of ProPetro in a research note issued on Thursday, June 27th. Atb Cap Markets analyst W. Syed now anticipates that the company will earn $0.05 per share for the quarter, down from their previous estimate of $0.09. The consensus estimate for ProPetro’s current full-year earnings is $0.64 per share. Atb Cap Markets also issued estimates for ProPetro’s Q3 2024 earnings at $0.14 EPS, FY2024 earnings at $0.44 EPS and Q1 2025 earnings at $0.18 EPS.

Several other research firms have also recently commented on PUMP. Barclays boosted their price target on shares of ProPetro from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Benchmark reissued a “hold” rating on shares of ProPetro in a report on Thursday, May 2nd.

ProPetro Price Performance

PUMP stock opened at $8.39 on Monday. ProPetro has a 1 year low of $6.99 and a 1 year high of $11.37. The firm has a market capitalization of $902.76 million, a P/E ratio of 12.52 and a beta of 2.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.18 and a quick ratio of 1.12. The business’s 50-day moving average is $9.07 and its two-hundred day moving average is $8.38.

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

Insider Activity

In related news, Director Michele Vion sold 7,778 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $9.21, for a total value of $71,635.38. Following the transaction, the director now owns 39,006 shares in the company, valued at approximately $359,245.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Adam Munoz sold 42,573 shares of the firm’s 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 sale, the chief operating officer now owns 58,134 shares in the company, valued at $539,483.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michele Vion sold 7,778 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $9.21, for a total value of $71,635.38. Following the transaction, the director now owns 39,006 shares in the company, valued at approximately $359,245.26. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Signaturefd LLC lifted its stake in shares of ProPetro by 47.1% in the fourth quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock valued at $66,000 after purchasing an additional 2,542 shares during the period. Hsbc Holdings PLC raised its holdings in ProPetro by 7.4% during the third quarter. Hsbc Holdings PLC now owns 31,415 shares of the company’s stock worth $334,000 after purchasing an additional 2,172 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in ProPetro during the third quarter worth $314,000. Dimensional Fund Advisors LP grew its holdings in ProPetro by 5.5% in 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, American Century Companies Inc. raised its stake in shares of ProPetro by 13.3% during the 3rd quarter. American Century Companies Inc. now owns 1,387,406 shares of the company’s stock worth $14,748,000 after buying an additional 163,363 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

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.