ProPetro Holding Corp. (NYSE:PUMP – Free Report) – Investment analysts at Zacks Research cut their Q1 2028 earnings per share estimates for ProPetro in a research note issued on Thursday, October 22nd. Zacks Research analyst Team now anticipates that the company will earn ($0.05) per share for the quarter, down from their previous estimate of ($0.02). The consensus estimate for ProPetro’s current full-year earnings is ($0.10) per share.
Other research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of ProPetro from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Scotiabank initiated coverage on shares of ProPetro in a research report on Tuesday, September 29th. They issued a “sector perform” rating and a $12.00 target price on the stock. Stifel Nicolaus decreased their target price on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Citigroup lowered their target price on shares of ProPetro from $16.00 to $14.50 and set a “buy” rating for the company in a report on Friday, October 2nd. Finally, Barclays dropped their price target on shares of ProPetro from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, October 15th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.05.
Get Our Latest Stock Analysis on ProPetro
ProPetro Trading Up 3.5%
Shares of NYSE:PUMP opened at $7.58 on Monday. The stock’s 50-day moving average price is $9.83 and its two-hundred day moving average price is $12.55. ProPetro has a 12-month low of $6.91 and a 12-month high of $18.50. The firm has a market cap of $931.62 million, a price-to-earnings ratio of -68.95 and a beta of 0.86.
ProPetro (NYSE:PUMP – Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The company had revenue of $305.81 million during the quarter, compared to analysts’ expectations of $304.48 million. During the same quarter in the previous year, the business earned ($0.07) EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year.
Insider Activity at ProPetro
In other news, COO Adam Muñoz sold 70,696 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $11.17, for a total value of $789,674.32. Following the transaction, the chief operating officer owned 148,691 shares of the company’s stock, valued at approximately $1,660,878.47. This trade represents a 32.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director G Lawrence sold 35,831 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total transaction of $399,873.96. Following the completion of the transaction, the director directly owned 28,181 shares in the company, valued at approximately $314,499.96. This represents a 55.98% decrease in their position. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by insiders.
Institutional Trading of ProPetro
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of ProPetro during the second quarter valued at approximately $130,574,000. Dimensional Fund Advisors LP grew its holdings in ProPetro by 14.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,481,970 shares of the company’s stock valued at $93,408,000 after purchasing an additional 831,823 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in ProPetro by 182.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,684,710 shares of the company’s stock worth $32,573,000 after buying an additional 2,380,655 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in ProPetro by 10.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,449,379 shares of the company’s stock worth $49,706,000 after buying an additional 316,022 shares during the period. Finally, Cooper Creek Partners Management LLC purchased a new stake in ProPetro during the 1st quarter worth $42,748,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.
ProPetro Company Profile
ProPetro Holding Corp. is an oilfield services company that provides completion and production services to oil and natural gas exploration and production companies. Its primary offerings include hydraulic fracturing, well stimulation and wireline services used to prepare newly drilled wells for production and support ongoing well operations.
The company operates primarily in the Permian Basin, serving customers in the West Texas and southeastern New Mexico region. ProPetro’s services are focused on unconventional shale and tight-rock wells, where specialized pumping, pressure-control and downhole technologies are used to improve hydrocarbon recovery.
ProPetro was founded in 2007 and is headquartered in Midland, Texas.
Featured Articles
- Five stocks we like better than ProPetro
- Coca-Cola Stock Is Everything AI Isn’t—And That’s Its Biggest Strength
- Apple’s Foldable iPhone Sold Out in Minutes, But Wall Street Has Questions
- Netflix Is Making Big Changes, But Can It Fix What’s Really Hurting Growth?
- Charging Ahead: Solid Power’s Pilot Line Leaves the Lab
Receive News & Ratings for ProPetro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProPetro and related companies with MarketBeat.com's FREE daily email newsletter.
