Laurion Capital Management LP acquired a new stake in Mammoth Energy Services Inc (NASDAQ:TUSK) in the second quarter, Holdings Channel reports. The fund acquired 409,053 shares of the energy company’s stock, valued at approximately $13,891,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Mammoth Energy Services by 11.1% in the first quarter. BlackRock Inc. now owns 498,090 shares of the energy company’s stock valued at $15,969,000 after buying an additional 49,696 shares in the last quarter. Bowling Portfolio Management LLC acquired a new stake in shares of Mammoth Energy Services in the second quarter valued at $1,841,000. Millennium Management LLC grew its stake in shares of Mammoth Energy Services by 271.5% in the first quarter. Millennium Management LLC now owns 553,252 shares of the energy company’s stock valued at $17,737,000 after buying an additional 404,318 shares in the last quarter. Pendal Group Ltd acquired a new stake in shares of Mammoth Energy Services in the second quarter valued at $907,000. Finally, Trexquant Investment LP grew its stake in shares of Mammoth Energy Services by 60.3% in the second quarter. Trexquant Investment LP now owns 22,075 shares of the energy company’s stock valued at $750,000 after buying an additional 8,308 shares in the last quarter. 81.22% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the company. BidaskClub raised Mammoth Energy Services from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 3rd. Imperial Capital boosted their target price on Mammoth Energy Services from $37.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 30th. Piper Jaffray Companies boosted their target price on Mammoth Energy Services from $35.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, June 8th. ValuEngine cut Mammoth Energy Services from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Barclays boosted their target price on Mammoth Energy Services from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, May 30th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $38.44.
In other news, Director Meh Sub Llc sold 266,026 shares of the company’s stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $38.01, for a total transaction of $10,111,648.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.
TUSK opened at $26.71 on Wednesday. Mammoth Energy Services Inc has a 12 month low of $13.07 and a 12 month high of $42.30. The firm has a market cap of $1.23 billion, a P/E ratio of 18.81 and a beta of 0.15.
Mammoth Energy Services (NASDAQ:TUSK) last released its 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 return on equity of 34.33% and a net margin of 10.57%. The company had revenue of $533.60 million for the quarter, compared to analyst estimates of $531.25 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. The company’s revenue for the quarter was up 442.8% compared to the same quarter last year. analysts anticipate that Mammoth Energy Services Inc will post 4.84 earnings per share for the current fiscal year.
The business also recently announced a special dividend, which was paid on Tuesday, August 14th. Investors of record on Tuesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, August 6th. Mammoth Energy Services’s payout ratio is 35.21%.
Mammoth Energy Services 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.
Further Reading: Understanding Price to Earnings Ratio (PE)
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