Bank of America Corp DE raised its holdings in shares of Mammoth Energy Services Inc (NASDAQ:TUSK) by 556.5% in the second quarter, Holdings Channel reports. The institutional investor owned 19,760 shares of the energy company’s stock after buying an additional 16,750 shares during the quarter. Bank of America Corp DE’s holdings in Mammoth Energy Services were worth $671,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Mammoth Energy Services by 37.7% during the second quarter. BlackRock Inc. now owns 685,958 shares of the energy company’s stock worth $23,295,000 after buying an additional 187,868 shares during the last quarter. Penn Capital Management Co. Inc. lifted its holdings in shares of Mammoth Energy Services by 41.5% during the second quarter. Penn Capital Management Co. Inc. now owns 506,562 shares of the energy company’s stock worth $17,225,000 after buying an additional 148,481 shares during the last quarter. Laurion Capital Management LP acquired a new position in shares of Mammoth Energy Services during the second quarter worth approximately $13,891,000. Northpointe Capital LLC lifted its holdings in shares of Mammoth Energy Services by 20.6% during the second quarter. Northpointe Capital LLC now owns 373,543 shares of the energy company’s stock worth $12,686,000 after buying an additional 63,685 shares during the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of Mammoth Energy Services by 16.2% during the second quarter. Royce & Associates LP now owns 339,372 shares of the energy company’s stock worth $11,525,000 after buying an additional 47,200 shares during the last quarter. Institutional investors own 81.40% of the company’s stock.

In other Mammoth Energy Services news, CEO Arty Straehla sold 2,230 shares of the stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $26.20, for a total value of $58,426.00. Following the completion of the sale, the chief executive officer now directly owns 199,007 shares in the company, valued at $5,213,983.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark E. Layton sold 1,136 shares of the stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $27.13, for a total value of $30,819.68. The disclosure for this sale can be found here. Insiders sold 39,977 shares of company stock worth $1,067,125 in the last three months. Insiders own 0.25% of the company’s stock.

TUSK has been the topic of a number of research reports. BidaskClub cut Mammoth Energy Services from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. Barclays set a $44.00 price objective on Mammoth Energy Services and gave the stock a “buy” rating in a research note on Saturday, November 3rd. Piper Jaffray Companies reissued an “overweight” rating and issued a $45.00 price objective on shares of Mammoth Energy Services in a research note on Monday, August 20th. They noted that the move was a valuation call. Raymond James lowered Mammoth Energy Services from an “outperform” rating to a “market perform” rating and set a $18.00 price objective on the stock. in a research note on Friday, August 24th. Finally, ValuEngine lowered Mammoth Energy Services from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.00.

Shares of TUSK opened at $23.84 on Wednesday. Mammoth Energy Services Inc has a 12-month low of $16.88 and a 12-month high of $42.30. The firm has a market cap of $1.14 billion, a PE ratio of 16.79 and a beta of 0.97.

Mammoth Energy Services (NASDAQ:TUSK) last issued its quarterly earnings results on Wednesday, October 31st. The energy company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.48. Mammoth Energy Services had a return on equity of 42.51% and a net margin of 13.12%. The business had revenue of $384.00 million for the quarter, compared to analyst estimates of $473.89 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. The firm’s revenue for the quarter was up 157.2% compared to the same quarter last year. Analysts forecast that Mammoth Energy Services Inc will post 4.06 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 8th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.10%. The ex-dividend date was Wednesday, November 7th. Mammoth Energy Services’s payout ratio is 35.21%.

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Mammoth Energy Services Company Profile

Mammoth Energy Services, Inc engages in the exploration and development of North American onshore unconventional oil and natural gas reserves. It operates through the following business segments: Pressure Pumping, Infrastructure, Sand, Drilling, and All Other. The Pressure Pumping segment provides pressure pumping services, also known as hydraulic fracturing, to exploration and production companies.

Further Reading: Cost of Capital Explained

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Institutional Ownership by Quarter for Mammoth Energy Services (NASDAQ:TUSK)

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