Mammoth Energy shares down after dividend suspension

Mammoth Energy Services

02/08/2019 17:26

** Shares of integrated oilfield services provider  TUSK.O 
fall ~21% to $4.8 
    ** After disappointing Q2 results on Thursday, TUSK
suspended quarterly cash dividend, citing oilfield market
conditions; also lowered its 2019 capital budget to $41 mln from
$80 mln urn:newsml:reuters.com:*:nGNX7sgXDH
    ** Co reported Q2 loss per share of 24 cents vs 95 cents
profit in the year-ago qtr
    ** Reported revenue of $181.8 mln vs est of $200.8 mln
-Refinitiv IBES 
    ** 5 of 10 brokerages rate the stock "buy" and 5 "hold";
median PT is $11.25
    ** TUSK shares have slumped ~75% YTD

 (Reporting by Shradha Singh in Bengaluru)
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Ext: 2439, outside U.S. +91 80 6749 2439; Reuters Messaging:
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