Mammoth Energy Services (TUSK) Cut to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Mammoth Energy Services (NASDAQ:TUSK) from a buy rating to a hold rating in a research note released on Saturday.
According to Zacks, “Mammoth Energy Services Inc. is an integrated oilfield service company. It engaged in the exploration and development of North American onshore unconventional oil and natural gas reserves and energy infrastructure. The Company’s segment include Contract Land and Directional Drilling Services; Completion and Production Services; Natural Sand Proppant Services and Remote Accommodation Services. Mammoth Energy Services Inc. is based in Oklahoma, United States. “
Other equities analysts have also issued reports about the stock. BidaskClub upgraded shares of Mammoth Energy Services from a buy rating to a strong-buy rating in a report on Friday, August 3rd. Imperial Capital increased their price objective on shares of Mammoth Energy Services from $37.00 to $46.00 and gave the company an outperform rating in a report on Wednesday, May 30th. Piper Jaffray Companies increased their price objective on shares of Mammoth Energy Services from $35.00 to $52.00 and gave the company an overweight rating in a report on Friday, June 8th. ValuEngine lowered shares of Mammoth Energy Services from a buy rating to a hold rating in a report on Thursday, August 2nd. Finally, Barclays increased their price objective on shares of Mammoth Energy Services from $37.00 to $42.00 and gave the company a buy rating in a report on Wednesday, May 30th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $41.88.
Mammoth Energy Services (NASDAQ:TUSK) last released its quarterly earnings results on Monday, August 6th. The energy company reported $1.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.17). Mammoth Energy Services had a net margin of 10.57% and a return on equity of 34.33%. The company had revenue of $533.60 million for the quarter, compared to the consensus estimate of $531.25 million. During the same period last year, the company earned ($0.03) earnings per share. Mammoth Energy Services’s revenue for the quarter was up 442.8% compared to the same quarter last year. analysts anticipate that Mammoth Energy Services will post 5.23 EPS for the current fiscal year.
The firm also recently disclosed a special dividend, which will be paid on Tuesday, August 14th. Investors of record on Tuesday, August 7th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, August 6th. Mammoth Energy Services’s dividend payout ratio is currently 35.21%.
In related news, Director Meh Sub Llc sold 266,026 shares of the stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $38.01, for a total value of $10,111,648.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. King Luther Capital Management Corp lifted its holdings in Mammoth Energy Services by 1.9% in the second quarter. King Luther Capital Management Corp now owns 77,955 shares of the energy company’s stock valued at $2,647,000 after buying an additional 1,435 shares during the period. Swiss National Bank raised its holdings in Mammoth Energy Services by 14.4% in the first quarter. Swiss National Bank now owns 14,300 shares of the energy company’s stock worth $458,000 after purchasing an additional 1,800 shares during the period. Meeder Asset Management Inc. raised its holdings in Mammoth Energy Services by 285.5% in the second quarter. Meeder Asset Management Inc. now owns 4,187 shares of the energy company’s stock worth $142,000 after purchasing an additional 3,101 shares during the period. Winslow Evans & Crocker Inc. acquired a new stake in Mammoth Energy Services in the second quarter worth $122,000. Finally, SG Americas Securities LLC acquired a new stake in Mammoth Energy Services in the second quarter worth $141,000. Institutional investors and hedge funds own 75.26% of the company’s stock.
Mammoth Energy Services Company Profile
Mammoth Energy Services, Inc operates as an integrated oilfield service company. The company operates in four segments: Pressure Pumping Services, Infrastructure Services, Natural Sand Proppant Services, and Contract Land and Directional Drilling Services. The Pressure Pumping Services segment provides high-pressure hydraulic fracturing services to enhance the production of oil and natural gas from formations having low permeability.
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