Zacks Research Has Bearish Forecast for ProPetro Q3 Earnings

ProPetro Holding Corp. (NYSE:PUMP) – Stock analysts at Zacks Research reduced their Q3 2027 EPS estimates for ProPetro in a research note issued to investors on Friday, September 18th. Zacks Research analyst Team now anticipates that the company will post earnings of $0.04 per share for the quarter, down from their prior estimate of $0.05. The consensus estimate for ProPetro’s current full-year earnings is ($0.11) per share.

PUMP has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a report on Friday, July 31st. Odeon Capital Group began coverage on ProPetro in a report on Thursday, May 28th. They set a “buy” rating on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $16.00 target price on shares of ProPetro in a research note on Wednesday, June 3rd. Barclays cut their price target on ProPetro from $23.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. Finally, Piper Sandler reduced their price target on shares of ProPetro from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, August 27th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.78.

ProPetro Stock Down 2.9%

PUMP opened at $10.18 on Monday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -92.55 and a beta of 0.77. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.00 and a current ratio of 4.09. The firm’s 50-day simple moving average is $11.51 and its 200-day simple moving average is $13.69. ProPetro has a twelve month low of $4.73 and a twelve month high of $18.50.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.The business had revenue of $305.81 million for the quarter, compared to analyst estimates of $304.48 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis.

Insider Activity

In related news, COO Adam Muñoz sold 70,696 shares of the stock in a transaction that occurred 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 sale, the chief operating officer directly owned 148,691 shares in the company, valued at $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 stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $11.16, for a total transaction of $399,873.96. Following the completion of the sale, the director owned 28,181 shares in the company, valued at approximately $314,499.96. This trade represents a 55.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.55% of the company’s stock.

Institutional Investors Weigh In On ProPetro

A number of hedge funds and other institutional investors have recently made changes to their positions in PUMP. Arlington Capital Management Inc. bought a new position in ProPetro during the 2nd quarter worth about $3,830,000. Engineers Gate Manager LP lifted its holdings in shares of ProPetro by 477.9% in the second quarter. Engineers Gate Manager LP now owns 297,809 shares of the company’s stock valued at $4,271,000 after purchasing an additional 246,278 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of ProPetro by 80.9% in the second quarter. Squarepoint Ops LLC now owns 622,179 shares of the company’s stock valued at $8,922,000 after purchasing an additional 278,172 shares in the last quarter. Readystate Asset Management LP boosted its position in shares of ProPetro by 285.6% during the second quarter. Readystate Asset Management LP now owns 405,748 shares of the company’s stock worth $5,818,000 after buying an additional 300,535 shares during the period. Finally, Situational Awareness LP boosted its position in shares of ProPetro by 115.4% during the second quarter. Situational Awareness LP now owns 1,960,382 shares of the company’s stock worth $28,112,000 after buying an additional 1,050,082 shares during the period. 84.70% of the stock is currently owned by institutional investors and hedge funds.

About ProPetro

ProPetro Holding Corp. is an oilfield services company that provides completion and production services to exploration and production companies developing unconventional oil and natural gas wells. The company primarily serves customers in the Permian Basin, including the Midland and Delaware basins of West Texas and southeastern New Mexico.

Its principal services include hydraulic fracturing, which uses high-pressure fluid to stimulate wells, as well as wireline services used for well evaluation, perforating and other completion activities.