Equities research analysts at Atb Cap Markets have adjusted their Q3 2023 earnings per share estimates for ProPetro Holding Corp. (PUMP) according to a research note issued on Thursday, September 28th. Analyst W. Syed now forecasts that the company will post earnings of $0.26 per share for the quarter, down from their previous forecast of $0.27. The consensus estimate for ProPetro’s current full-year earnings is $1.15 per share.
Other analysts have also issued reports about ProPetro. Citigroup boosted their price objective on the company from $9.00 to $10.00 and gave it a “neutral” rating in a report on July 18th. 500.com reissued a “maintains” rating on shares of ProPetro in a report on June 8th. Barclays cut their target price on ProPetro from $14.00 to $12.00 in a research report on June 8th. Stifel Nicolaus cut their target price on ProPetro from $17.00 to $16.00 in a research report on July 12th. Finally, Benchmark upgraded ProPetro from a “hold” rating to a “buy” rating in a research report on July 19th. According to data from MarketBeat.com, ProPetro presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.67.
Shares of ProPetro stock opened at $10.63 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.26, and a debt-to-equity ratio of 0.06. ProPetro has a market cap of $1.20 billion, a P/E ratio of 13.12, and a beta of 2.44. The stock has a fifty-two week low of $6.33 and a fifty-two week high of $12.58. The business has a 50-day moving average price of $10.11 and a 200-day moving average price of $8.51.
ProPetro last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.07). The business had revenue of $435.00 million during the quarter, compared to analyst estimates of $436.27 million. ProPetro had a return on equity of 16.81% and a net margin of 5.91%. The company’s revenue was up 38.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 EPS.
Institutional investors have recently made changes to their positions in ProPetro. Victory Capital Management Inc. increased its position in ProPetro by 4.4% during the first quarter. Victory Capital Management Inc. now owns 95,161 shares of the company’s stock worth $684,000 after buying an additional 3,969 shares in the last quarter. Y Intercept Hong Kong Ltd now owns 49,589 shares of the company’s stock worth $357,000 after buying an additional 31,628 shares in the last quarter. Tectonic Advisors LLC grew its position in ProPetro by 7.6% during the second quarter. Tectonic Advisors LLC now owns 93,790 shares of the company’s stock worth $773,000 after buying an additional 6,617 shares in the last quarter. Sagefield Capital LP grew its position in ProPetro by 7.5% during the first quarter. Sagefield Capital LP now owns 583,362 shares of the company’s stock worth $4,194,000 after buying an additional 40,903 shares in the last quarter. Finally, Boston Partners grew its position in ProPetro by 42.8% during the first quarter. Boston Partners now owns 3,992,577 shares of the company’s stock worth $28,701,000 after buying an additional 1,196,513 shares in the last quarter. 78.54% of the stock is currently owned by institutional investors.
In related news, Director Phillip A. Gobe sold 20,000 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $10.00, for a total transaction of $200,000.00. Following the completion of the sale, the director now directly owns 258,629 shares in the company, valued at $2,586,290. The sale was disclosed in a filing with the SEC.
ProPetro Holding Corp., an integrated oilfield services company based in Midland, Texas, provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin.
Sources:
– Atb Cap Markets
– MarketBeat.com