Atb Cap Markets Weighs in on ProPetro Holding Corp.’s Q2 2024 Earnings (NYSE:PUMP)

ProPetro Holding Corp. (NYSE:PUMP) – Equities research analysts at Atb Cap Markets lifted their Q2 2024 EPS estimates for shares of ProPetro in a research note issued on Wednesday, May 1st. Atb Cap Markets analyst W. Syed now expects that the company will earn $0.13 per share for the quarter, up from their previous estimate of $0.10. The consensus estimate for ProPetro’s current full-year earnings is $0.48 per share. Atb Cap Markets also issued estimates for ProPetro’s Q3 2024 earnings at $0.17 EPS, Q4 2024 earnings at $0.10 EPS, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.23 EPS, Q3 2025 earnings at $0.25 EPS, Q4 2025 earnings at $0.21 EPS, FY2025 earnings at $0.86 EPS, Q1 2026 earnings at $0.22 EPS and FY2026 earnings at $1.00 EPS.

A number of other equities research analysts have also commented on the stock. Benchmark reissued a “hold” rating on shares of ProPetro in a report on Thursday. TheStreet lowered shares of ProPetro from a “b-” rating to a “c+” rating in a report on Monday, January 8th.

ProPetro Stock Up 1.5 %

Shares of NYSE:PUMP opened at $9.30 on Friday. ProPetro has a 12 month low of $6.33 and a 12 month high of $11.37. The company’s 50-day moving average price is $8.06 and its two-hundred day moving average price is $8.51. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.00 billion, a P/E ratio of 13.88 and a beta of 2.09.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.10. ProPetro had a net margin of 4.76% and a return on equity of 7.62%. The firm had revenue of $405.84 million for the quarter, compared to analyst estimates of $393.11 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue was down 4.2% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PUMP. Signaturefd LLC lifted its position in ProPetro by 47.1% during the 4th 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. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of ProPetro in the 4th quarter valued at approximately $90,000. Quadrant Capital Group LLC raised its position in shares of ProPetro by 60.0% in the 4th quarter. Quadrant Capital Group LLC now owns 12,136 shares of the company’s stock valued at $102,000 after acquiring an additional 4,550 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of ProPetro in the 4th quarter valued at approximately $102,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of ProPetro in the 4th quarter valued at approximately $124,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

ProPetro Company Profile

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.