Zacks Research Has Negative Opinion of ProPetro Q1 Earnings

Key Points

• Zacks Research lowered its Q1 2028 EPS estimate for ProPetro to a loss of $0.05 per share from a previous estimate of $0.02, while the full-year consensus estimate stands at a $0.10 loss per share.
• Analyst sentiment is mixed: Morgan Stanley, Wall Street Zen and Weiss Ratings downgraded or reduced their views, while ProPetro retains a “Moderate Buy” consensus rating and an average price target of $15.05.
• ProPetro shares opened at $7.28, well below their 52-week high of $18.50. The company’s latest quarterly results missed EPS expectations, with a $0.07 loss per share and revenue down 6.3% year over year.

ProPetro Holding Corp. (NYSE:PUMP - Free Report) - Research analysts at Zacks Research decreased their Q1 2028 earnings per share (EPS) estimates for ProPetro in a research report issued on Thursday, October 22nd. Zacks Research analyst Team now forecasts that the company will post earnings per share of ($0.05) for the quarter, down from their previous forecast of ($0.02). The consensus estimate for ProPetro's current full-year earnings is ($0.10) per share.

A number of other equities analysts also recently commented on the company. Morgan Stanley decreased their target price on ProPetro from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Wednesday, October 14th. Wall Street Zen cut shares of ProPetro from a "hold" rating to a "sell" rating in a report on Saturday, August 29th. Citigroup cut their price target on shares of ProPetro from $16.00 to $14.50 and set a "buy" rating on the stock in a report on Friday, October 2nd. Stifel Nicolaus reduced their price objective 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. Finally, Weiss Ratings lowered shares of ProPetro from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, September 29th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, ProPetro presently has a consensus rating of "Moderate Buy" and an average target price of $15.05.

ProPetro Price Performance

Shares of PUMP stock opened at $7.28 on Monday. The firm has a market cap of $893.52 million, a P/E ratio of -66.14 and a beta of 0.86. ProPetro has a fifty-two week low of $6.28 and a fifty-two week high of $18.50. The business's 50 day moving average price is $10.02 and its 200-day moving average price is $12.81. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.00 and a current ratio of 4.09.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in ProPetro in the second quarter worth $130,574,000. Dimensional Fund Advisors LP raised its holdings in ProPetro by 14.7% in the first quarter. Dimensional Fund Advisors LP now owns 6,481,970 shares of the company's stock worth $93,408,000 after purchasing an additional 831,823 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in ProPetro by 10.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,449,379 shares of the company's stock worth $49,706,000 after purchasing an additional 316,022 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new position in ProPetro during the first quarter valued at $42,748,000. Finally, Wellington Management Group LLP lifted its position in ProPetro by 882.3% during the second quarter. Wellington Management Group LLP now owns 2,290,361 shares of the company's stock valued at $32,844,000 after buying an additional 2,057,195 shares during the period. Hedge funds and other institutional investors own 84.70% of the company's stock.

Insider Activity at ProPetro

In other ProPetro news, Director G Lawrence sold 35,831 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 28,181 shares in the company, valued at approximately $314,499.96. This represents a 55.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Adam Muñoz sold 70,696 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total value of $789,674.32. Following the completion of the transaction, the chief operating officer directly owned 148,691 shares of the company's stock, valued at $1,660,878.47. This represents a 32.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.55% of the company's stock.

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.

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