Millennium Management LLC raised its position in shares of Mammoth Energy Services Inc (NASDAQ:TUSK) by 271.5% in the first quarter, HoldingsChannel reports. The firm owned 553,252 shares of the energy company’s stock after acquiring an additional 404,318 shares during the period. Millennium Management LLC’s holdings in Mammoth Energy Services were worth $17,737,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TUSK. Penn Capital Management Co. Inc. bought a new stake in Mammoth Energy Services during the 1st quarter valued at $11,497,000. New York State Common Retirement Fund raised its position in Mammoth Energy Services by 2,638.5% during the 1st quarter. New York State Common Retirement Fund now owns 175,262 shares of the energy company’s stock valued at $5,619,000 after purchasing an additional 168,862 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in Mammoth Energy Services during the 1st quarter valued at $2,226,000. Alambic Investment Management L.P. bought a new position in shares of Mammoth Energy Services in the 1st quarter worth $1,625,000. Finally, BlackRock Inc. raised its position in shares of Mammoth Energy Services by 11.1% in the 1st quarter. BlackRock Inc. now owns 498,090 shares of the energy company’s stock worth $15,969,000 after acquiring an additional 49,696 shares in the last quarter. 73.61% of the stock is owned by institutional investors and hedge funds.
In related news, Director Meh Sub Llc sold 2,764,400 shares of the company’s stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $38.01, for a total transaction of $105,074,844.00. 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.
TUSK has been the subject of several recent research reports. Piper Jaffray Companies reissued a “buy” rating on shares of Mammoth Energy Services in a research report on Tuesday, March 6th. BidaskClub raised Mammoth Energy Services from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 7th. R. F. Lafferty boosted their price target on Mammoth Energy Services from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, March 28th. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price target on shares of Mammoth Energy Services in a research report on Wednesday, April 4th. Finally, Stephens boosted their price target on Mammoth Energy Services from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, April 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $38.63.
Mammoth Energy Services opened at $34.43 on Wednesday, according to MarketBeat Ratings. The firm has a market capitalization of $1.52 billion, a PE ratio of 24.25 and a beta of 0.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.26 and a quick ratio of 1.21. Mammoth Energy Services Inc has a 12 month low of $10.88 and a 12 month high of $42.30.
Mammoth Energy Services (NASDAQ:TUSK) last announced its earnings results on Wednesday, May 2nd. The energy company reported $1.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.42). Mammoth Energy Services had a net margin of 10.76% and a return on equity of 25.02%. The business had revenue of $494.25 million for the quarter, compared to analyst estimates of $457.44 million. During the same period in the prior year, the company earned ($0.13) earnings per share. The company’s quarterly revenue was up 559.3% on a year-over-year basis. research analysts expect that Mammoth Energy Services Inc will post 5.18 earnings per share for the current year.
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.
Want to see what other hedge funds are holding TUSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mammoth Energy Services Inc (NASDAQ:TUSK).
Receive News & Ratings for Mammoth Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mammoth Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.