Credit Suisse AG lowered its stake in MAMMOOTH ENERGY (NASDAQ:TUSK) by 5.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,656 shares of the energy company’s stock after selling 682 shares during the quarter. Credit Suisse AG’s holdings in MAMMOOTH ENERGY were worth $272,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Cortina Asset Management LLC purchased a new stake in MAMMOOTH ENERGY in the first quarter worth approximately $593,000. Teachers Advisors LLC purchased a new position in shares of MAMMOOTH ENERGY during the 4th quarter valued at $184,000. EAM Investors LLC acquired a new stake in shares of MAMMOOTH ENERGY in the first quarter worth $588,000. Bank of New York Mellon Corp increased its stake in shares of MAMMOOTH ENERGY by 85.5% in the first quarter. Bank of New York Mellon Corp now owns 28,437 shares of the energy company’s stock worth $611,000 after acquiring an additional 13,104 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of MAMMOOTH ENERGY in the first quarter worth $233,000. Institutional investors own 73.44% of the company’s stock.
TUSK has been the topic of a number of research reports. Zacks Investment Research lowered shares of MAMMOOTH ENERGY from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. R. F. Lafferty initiated coverage on shares of 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 lowered shares of MAMMOOTH ENERGY from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock 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 objective (down previously from $22.00) on shares of MAMMOOTH ENERGY in a research note on Wednesday, July 12th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $18.00 price objective (down previously from $25.00) on shares of MAMMOOTH ENERGY in a research note on Tuesday, August 8th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $22.55.
In related news, Director James D. Palm purchased 6,000 shares of the stock in a transaction dated Friday, August 25th. The shares were acquired at an average cost of $12.75 per share, with a total value of $76,500.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.03% of the company’s stock.
Shares of MAMMOOTH ENERGY (NASDAQ:TUSK) traded down 3.39% during mid-day trading on Friday, reaching $14.54. 28,118 shares of the company were exchanged. The stock has a 50 day moving average price of $14.51 and a 200-day moving average price of $18.64. MAMMOOTH ENERGY has a 12 month low of $11.91 and a 12 month high of $24.54. The stock has a market capitalization of $647.06 million and a P/E ratio of 156.34.
MAMMOOTH ENERGY (NASDAQ:TUSK) last posted its quarterly earnings results on Wednesday, August 2nd. The energy company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.05. MAMMOOTH ENERGY had a negative net margin of 21.65% and a negative return on equity of 3.04%. The business had revenue of $98.26 million for the quarter, compared to analysts’ expectations of $92.14 million. The firm’s revenue for the quarter was up 42.1% on a year-over-year basis. Analysts predict that MAMMOOTH ENERGY will post ($0.07) earnings per share for the current year.
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.
Receive News & Ratings for MAMMOOTH ENERGY Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MAMMOOTH ENERGY and related companies with our FREE daily email newsletter.