Emerge Energy Services LP (NYSE:EMES) announced that, in accordance with its cash distribution policy as determined by the board of directors of its general partner, it will not make a cash distribution on its common units in respect of the three months ended September 30, 2015. Emerge Energy did not generate available cash to distribute for the three months ended September 30, 2015 due to the challenging oil and natural gas frac sand market and the volatility in wholesale fuel prices during this period. The board of directors of Emerge Energy’s general partner will evaluate the amount of Emerge Energy’s cash distributions to unitholders in respect of future quarters in light of Emerge Energy’s cash distribution policy and then-prevailing market conditions.
Emerge Energy today also announced it will release its third quarter results before the financial markets open on Wednesday, November 4, 2015. A conference call to discuss the third quarter 2015 financial and operating results will be held on Wednesday, November 4, 2015 at 1:00 p.m. CST. (Original Source)
Shares of Emerge Energy are down 20.52% to $5.50 in after hours trading. EMES has a 1-year high of $99 and a 1-year low of $5.50. The stock’s 50-day moving average is $10.72 and its 200-day moving average is $27.13.
On the ratings front, Emerge Energy has been the subject of a number of recent research reports. In a report issued on October 1, Wunderlich Securities analyst Abhishek Sinha reiterated a Hold rating on EMES, with a price target of $7, which represents a slight upside potential from current levels. Separately, on September 25, Robert W. Baird’s Ethan Bellamy downgraded the stock to Sell and has a price target of $7.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Abhishek Sinha and Ethan Bellamy have a total average return of -24.3% and 4.5% respectively. Sinha has a success rate of 20.7% and is ranked #3772 out of 3795 analysts, while Bellamy has a success rate of 62.5% and is ranked #1065.
Overall, 2 research analysts have rated the stock with a Sell rating, one research analyst has assigned a Hold rating and one research analyst has given a a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $13.25 which is 91.2% above where the stock opened today.
Emerge Energy Services LP is engaged in the ownership, operation, and acquisition and development of a energy service assets. Its business is segmented into two – Sand segment and Fuel segment.