ProPetro Holding Corp. (NYSE:PUMP - Free Report) - Equities research analysts at Atb Cap Markets raised their FY2024 earnings per share (EPS) estimates for ProPetro in a report issued on Wednesday, October 30th. Atb Cap Markets analyst W. Syed now forecasts that the company will post earnings per share of $0.30 for the year, up from their previous forecast of $0.11. The consensus estimate for ProPetro's current full-year earnings is $0.17 per share. Atb Cap Markets also issued estimates for ProPetro's Q4 2024 earnings at $0.02 EPS.
Several other equities research analysts also recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, October 11th. Barclays cut their price objective on ProPetro from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Finally, Citigroup dropped their price objective on shares of ProPetro from $8.50 to $8.00 and set a "neutral" rating on the stock in a report on Thursday. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $10.33.
Get Our Latest Stock Analysis on PUMP
Shares of PUMP stock opened at $6.58 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.20. The company has a market capitalization of $685.39 million, a price-to-earnings ratio of -4.95 and a beta of 2.04. ProPetro has a one year low of $6.53 and a one year high of $10.62. The company's 50-day moving average is $7.80 and its 200 day moving average is $8.44.
In related news, Director Michele Vion sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $8.26, for a total transaction of $41,300.00. Following the completion of the sale, the director now owns 34,006 shares in the company, valued at approximately $280,889.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. bought a new stake in ProPetro in the second quarter worth $31,741,000. Dana Investment Advisors Inc. purchased a new position in shares of ProPetro during the second quarter valued at approximately $6,439,000. American Century Companies Inc. grew its stake in shares of ProPetro by 21.3% during the second quarter. American Century Companies Inc. now owns 2,515,579 shares of the company's stock valued at $21,810,000 after buying an additional 441,644 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of ProPetro by 441.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 303,971 shares of the company's stock worth $2,635,000 after buying an additional 247,860 shares during the period. Finally, AXA S.A. increased its stake in ProPetro by 963.9% in the second quarter. AXA S.A. now owns 181,929 shares of the company's stock worth $1,577,000 after purchasing an additional 164,829 shares during the period. 84.70% of the stock is currently owned by institutional investors.
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.
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