JPMorgan Chase & Co. Sells 6,488 Shares of MAMMOOTH ENERGY (TUSK)

JPMorgan Chase & Co. reduced its stake in shares of MAMMOOTH ENERGY (NASDAQ:TUSK) by 55.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,304 shares of the energy company’s stock after selling 6,488 shares during the period. JPMorgan Chase & Co.’s holdings in MAMMOOTH ENERGY were worth $114,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Teachers Advisors LLC acquired a new stake in shares of MAMMOOTH ENERGY during the fourth quarter valued at about $184,000. Northpointe Capital LLC acquired a new stake in shares of MAMMOOTH ENERGY during the first quarter valued at about $412,000. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of MAMMOOTH ENERGY during the first quarter valued at about $437,000. 1st Global Advisors Inc. raised its stake in shares of MAMMOOTH ENERGY by 30.6% in the first quarter. 1st Global Advisors Inc. now owns 25,974 shares of the energy company’s stock valued at $559,000 after buying an additional 6,090 shares during the last quarter. Finally, DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in shares of MAMMOOTH ENERGY during the first quarter valued at about $599,000. Hedge funds and other institutional investors own 63.30% of the company’s stock.

MAMMOOTH ENERGY (NASDAQ:TUSK) opened at 13.11 on Friday. MAMMOOTH ENERGY has a 1-year low of $11.91 and a 1-year high of $24.54. The firm has a market capitalization of $583.40 million and a price-to-earnings ratio of 140.97. The stock’s 50 day moving average is $16.70 and its 200 day moving average is $18.63.

MAMMOOTH ENERGY (NASDAQ:TUSK) last announced its earnings results on Wednesday, August 2nd. The energy company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. The company had revenue of $98.26 million during the quarter, compared to the consensus estimate of $92.14 million. MAMMOOTH ENERGY had a negative net margin of 21.65% and a negative return on equity of 3.31%. The company’s quarterly revenue was up 42.1% on a year-over-year basis. Analysts predict that MAMMOOTH ENERGY will post $0.06 EPS for the current fiscal year.

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Several brokerages have issued reports on TUSK. R. F. Lafferty began coverage on shares of MAMMOOTH ENERGY in a research note on Wednesday, June 14th. They issued a “buy” rating and a $37.00 price target on the stock. Zacks Investment Research lowered shares of MAMMOOTH ENERGY from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Barclays PLC lowered shares of MAMMOOTH ENERGY from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $26.00 to $17.00 in a research note on Wednesday, July 12th. Piper Jaffray Companies reiterated a “buy” rating and issued a $19.00 price target (down from $22.00) on shares of MAMMOOTH ENERGY in a research note on Wednesday, July 12th. Finally, Nomura began coverage on shares of MAMMOOTH ENERGY in a research note on Wednesday, April 19th. They issued a “buy” rating and a $32.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $23.00.

In other news, Director Arthur L. Smith bought 6,000 shares of the stock in a transaction dated Friday, June 9th. The stock was bought at an average price of $16.91 per share, for a total transaction of $101,460.00. Following the completion of the acquisition, the director now directly owns 6,667 shares in the company, valued at approximately $112,738.97. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

About MAMMOOTH ENERGY

Mammoth Energy Services, Inc is an integrated oilfield service company. The Company is engaged in the exploration and development of North American onshore unconventional oil and natural gas reserves. The Company’s segments include Contract Land and Directional Drilling Services; Completion and Production Services; Natural Sand Proppant Services, and Remote Accommodation Services.

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