Mammooth Energy (NASDAQ:TUSK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Mammoth Energy Services, Inc. is an integrated oilfield service company. Its segment consists of 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 CITY, United States. “
A number of other research analysts also recently issued reports on TUSK. Nomura initiated coverage on Mammooth Energy in a research note on Wednesday, April 19th. They issued a “buy” rating and a $32.00 price objective on the stock. Instinet reissued a “buy” rating and issued a $32.00 price objective on shares of Mammooth Energy in a research note on Wednesday, April 19th. R. F. Lafferty initiated coverage on Mammooth Energy in a research note on Wednesday, June 14th. They issued a “buy” rating and a $37.00 price objective on the stock. Barclays PLC downgraded Mammooth Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $26.00 to $17.00 in a research note on Wednesday, July 12th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $19.00 price objective (down from $22.00) on shares of Mammooth Energy in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $23.20.
Shares of Mammooth Energy (NASDAQ TUSK) traded down 4.00% during midday trading on Tuesday, hitting $11.28. The company’s stock had a trading volume of 49,816 shares. Mammooth Energy has a 1-year low of $11.20 and a 1-year high of $24.54. The company has a 50-day moving average price of $15.61 and a 200 day moving average price of $18.27. The company has a market cap of $501.98 million and a P/E ratio of 121.29.
Mammooth Energy (NASDAQ:TUSK) last announced its quarterly earnings data on Wednesday, August 2nd. The energy company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $98.26 million for the quarter, compared to the consensus estimate of $92.14 million. Mammooth Energy had a negative return on equity of 3.04% and a negative net margin of 21.65%. The firm’s quarterly revenue was up 42.1% compared to the same quarter last year. On average, equities research analysts predict that Mammooth Energy will post ($0.08) EPS for the current year.
In other news, Director Arthur L. Smith bought 6,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was acquired at an average cost of $16.91 per share, with a total value of $101,460.00. Following the transaction, the director now directly owns 6,667 shares of the company’s stock, valued at approximately $112,738.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.03% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. American International Group Inc. purchased a new stake in shares of Mammooth Energy during the first quarter worth approximately $103,000. Royce & Associates LP purchased a new stake in shares of Mammooth Energy during the first quarter worth approximately $168,000. Teachers Advisors LLC purchased a new stake in shares of Mammooth Energy during the fourth quarter worth approximately $184,000. Nationwide Fund Advisors raised its stake in shares of Mammooth Energy by 283.0% in the second quarter. Nationwide Fund Advisors now owns 10,276 shares of the energy company’s stock worth $191,000 after buying an additional 7,593 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Mammooth Energy during the second quarter worth approximately $191,000. 63.97% of the stock is owned by institutional investors and hedge funds.
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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