Emerge Energy Services LP (NYSE:EMES) announced the appointment of Mr. Jody Tusa as the chief financial officer Emerge Energy Services GP LLC, the general partner of Emerge Energy, effective on May 4, 2015. Mr. Tusa brings more than 35 years of finance experience to his new role, having recently served as CFO of USA Compression Partners, LP. Mr. Tusa replaces Robert Lane, who has resigned for personal reasons. Mr. Lane will remain with Emerge Energy until May 31, 2015 to ensure a smooth transition as Mr. Tusa takes over his duties as Chief Financial Officer.
Mr. Tusa brings over 35 years of financial and accounting experience to the position. He joins Emerge Energy following a distinguished career at USA Compression Partners, LP where he served as CFO from 2008 to January 2015. Most recently, Mr. Tusa served as President of Compression JCT Holding Corporation. Previously, he served as the CFO of Comsys IT Partners, Inc. from 2001 to 2007, and has held positions at various entities as a finance officer since 1987.
“We are very excited to welcome Jody to the Emerge Energy executive team. He brings extensive experience and thoughtful leadership to our partnership. His background in the MLP space complements both our day-to-day financial operations and his track record demonstrates an ability to help create value and growth,” said Rick Shearer, chief executive officer and president.
“I am very excited to be joining Emerge and its leadership team at this point in its young life as a public company,” said Mr. Tusa. “Emerge is a company with tremendous capabilities, talented people and market leadership positions in an industry with huge upside. I see a great opportunity to continue building on the company’s success bringing innovations to customers, and creating value for our unitholders.”
Mr. Tusa holds an M.B.A. from Louisiana State University where he graduated with highest honors and a BBA in accounting from Texas State University. (Original Source)
Shares of Emerge closed last Friday at $39.85 . EMES has a 1-year high of $145.72 and a 1-year low of $39.02. The stock’s 50-day moving average is $48.15 and its 200-day moving average is $57.97.
On the ratings front, Emerge has been the subject of a number of recent research reports. In a report issued on April 27, Wunderlich Securities analyst Abhishek Sinha downgraded EMES to Hold, with a price target of $40, which represents a slight upside potential from current levels. Separately, on April 15, Robert W. Baird’s Ethan Bellamy downgraded the stock to Hold .
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 -17.0% and 7.4% respectively. Sinha has a success rate of 30.6% and is ranked #3567 out of 3590 analysts, while Bellamy has a success rate of 63.6% and is ranked #980.
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.