407,976 Shares in Mammoth Energy Services, Inc. $TUSK Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 407,976 shares of Mammoth Energy Services in the second quarter, worth approximately $1.33 million and representing about 0.85% of the company.
• Institutional investors own approximately 79.67% of TUSK, while insider Wexford Capital increased its stake by 60.89% through the purchase of 4.02 million shares at $2.60 each.
• TUSK recently traded at $3.12, with a 52-week range of $1.72 to $3.92. Despite reporting $26.05 million in quarterly revenue and a $0.01 per-share loss, analysts maintain a consensus “Sell” rating.

BlackRock Inc. bought a new stake in Mammoth Energy Services, Inc. (NASDAQ:TUSK - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 407,976 shares of the energy company's stock, valued at approximately $1,326,000. BlackRock Inc. owned approximately 0.85% of Mammoth Energy Services as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of TUSK. Virtu Financial LLC acquired a new position in shares of Mammoth Energy Services in the third quarter worth $32,000. Sei Investments Co. acquired a new stake in shares of Mammoth Energy Services during the first quarter valued at $33,000. Franklin Resources Inc. purchased a new stake in Mammoth Energy Services during the 3rd quarter worth about $36,000. Sanctuary Advisors LLC purchased a new stake in Mammoth Energy Services during the 1st quarter worth about $41,000. Finally, Jane Street Group LLC raised its stake in Mammoth Energy Services by 48.3% in the 2nd quarter. Jane Street Group LLC now owns 17,268 shares of the energy company's stock valued at $48,000 after purchasing an additional 5,621 shares during the last quarter. Institutional investors and hedge funds own 79.67% of the company's stock.

Insider Buying and Selling

In related news, insider Wexford Capital Lp acquired 4,019,574 shares of the business's stock in a transaction dated Wednesday, June 17th. The shares were acquired at an average cost of $2.60 per share, for a total transaction of $10,450,892.40. Following the acquisition, the insider directly owned 10,620,789 shares in the company, valued at approximately $27,614,051.40. The trade was a 60.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders bought 4,024,074 shares of company stock valued at $10,465,502. 2.00% of the stock is owned by insiders.

Mammoth Energy Services Price Performance

TUSK stock opened at $3.12 on Monday. Mammoth Energy Services, Inc. has a 52-week low of $1.72 and a 52-week high of $3.92. The stock's fifty day simple moving average is $3.00 and its 200-day simple moving average is $2.82. The stock has a market capitalization of $150.17 million, a price-to-earnings ratio of 156.00 and a beta of 1.18.

Mammoth Energy Services (NASDAQ:TUSK - Get Free Report) last released its earnings results on Friday, August 7th. The energy company reported ($0.01) EPS for the quarter. Mammoth Energy Services had a net margin of 0.98% and a negative return on equity of 8.10%. The business had revenue of $26.05 million during the quarter.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Mammoth Energy Services from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings downgraded shares of Mammoth Energy Services from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Mammoth Energy Services has a consensus rating of "Sell".

About Mammoth Energy Services

Mammoth Energy Services, Inc, headquartered in Houston, Texas, is a diversified energy services company that primarily provides hydraulic fracturing and complementary well completion and production services to oil and natural gas exploration and production companies across North America. Its core offerings include fracturing, coiled tubing, cementing, wireline, nitrogen pumping, and pressure pumping equipment, supported by proprietary fluid blends and digital monitoring systems. In addition to conventional oilfield services, the company operates a dedicated solar division—Mammoth Solar—that delivers engineering, procurement and construction (EPC) services for utility-scale and commercial solar projects.

Mammoth's fracturing operations are focused on major shale plays such as the Permian Basin, Eagle Ford, Bakken, Williston Basin, and Rockies regions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source