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

ProPetro Holding Corp. (NYSE:PUMP) – Atb Cap Markets boosted their Q2 2024 EPS estimates for shares of ProPetro in a report released on Wednesday, May 1st. Atb Cap Markets analyst W. Syed now expects that the company will post earnings of $0.13 per share for the quarter, up from their prior forecast 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.

PUMP has been the subject of several other research reports. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a report on Thursday. TheStreet downgraded shares of ProPetro from a “b-” rating to a “c+” rating in a research report on Monday, January 8th.

ProPetro Trading Up 1.4 %

Shares of PUMP stock opened at $9.29 on Friday. The firm has a market capitalization of $999.33 million, a PE ratio of 13.87 and a beta of 2.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.08 and a current ratio of 1.18. ProPetro has a 1 year low of $6.33 and a 1 year high of $11.37. The stock has a fifty day moving average of $8.06 and a two-hundred day moving average of $8.49.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.18 earnings per share (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 the consensus estimate of $393.11 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis.

Institutional Trading of ProPetro

Several institutional investors have recently modified their holdings of the company. Swiss National Bank lifted its stake in ProPetro by 1.0% during the third quarter. Swiss National Bank now owns 190,000 shares of the company’s stock valued at $2,020,000 after purchasing an additional 1,900 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of ProPetro by 4.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 56,195 shares of the company’s stock valued at $471,000 after acquiring an additional 2,171 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of ProPetro by 7.4% during the 3rd quarter. Hsbc Holdings PLC now owns 31,415 shares of the company’s stock worth $334,000 after acquiring an additional 2,172 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of ProPetro by 3.5% in the 3rd quarter. New York State Common Retirement Fund now owns 74,983 shares of the company’s stock worth $797,000 after acquiring an additional 2,521 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of ProPetro by 47.1% during the fourth quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock worth $66,000 after purchasing an additional 2,542 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

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.