Wall Street analysts expect that Basic Energy Services Inc (NYSE:BAS) will post ($0.72) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Basic Energy Services’ earnings, with the highest EPS estimate coming in at ($0.67) and the lowest estimate coming in at ($0.78). Basic Energy Services posted earnings per share of ($0.24) during the same quarter last year, which indicates a negative year-over-year growth rate of 200%. The company is expected to issue its next earnings results on Thursday, November 1st.
On average, analysts expect that Basic Energy Services will report full-year earnings of ($3.15) per share for the current year, with EPS estimates ranging from ($3.31) to ($2.98). For the next fiscal year, analysts expect that the firm will post earnings of ($1.23) per share, with EPS estimates ranging from ($2.19) to ($0.56). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Basic Energy Services.
Basic Energy Services (NYSE:BAS) last released its quarterly earnings results on Tuesday, July 31st. The oil and gas company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.21). The business had revenue of $253.37 million during the quarter, compared to analyst estimates of $257.50 million. Basic Energy Services had a negative return on equity of 20.44% and a negative net margin of 10.94%.
A number of equities analysts have commented on the company. ValuEngine raised Basic Energy Services from a “sell” rating to a “hold” rating in a report on Friday, June 1st. Zacks Investment Research cut Basic Energy Services from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.29.
Shares of Basic Energy Services stock opened at $8.75 on Monday. Basic Energy Services has a 12 month low of $7.43 and a 12 month high of $26.75. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.49 and a quick ratio of 1.30.
In other news, Director James D. Kern bought 14,000 shares of Basic Energy Services stock in a transaction on Friday, August 3rd. The stock was acquired at an average price of $7.61 per share, with a total value of $106,540.00. Following the completion of the acquisition, the director now directly owns 26,100 shares of the company’s stock, valued at $198,621. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ascribe Capital Llc bought 200,000 shares of Basic Energy Services stock in a transaction on Thursday, August 2nd. The shares were purchased at an average cost of $7.52 per share, with a total value of $1,504,000.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 216,500 shares of company stock valued at $1,632,415 and have sold 5,400 shares valued at $58,569. 1.95% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of BAS. Dimensional Fund Advisors LP grew its position in shares of Basic Energy Services by 60.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,483,619 shares of the oil and gas company’s stock valued at $21,423,000 after purchasing an additional 560,216 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its position in shares of Basic Energy Services by 44.1% in the first quarter. Thompson Siegel & Walmsley LLC now owns 551,683 shares of the oil and gas company’s stock valued at $7,966,000 after purchasing an additional 168,703 shares in the last quarter. Millennium Management LLC grew its position in shares of Basic Energy Services by 16.3% in the first quarter. Millennium Management LLC now owns 1,164,095 shares of the oil and gas company’s stock valued at $16,810,000 after purchasing an additional 163,202 shares in the last quarter. Royce & Associates LP grew its position in shares of Basic Energy Services by 11.8% in the second quarter. Royce & Associates LP now owns 1,402,661 shares of the oil and gas company’s stock valued at $15,584,000 after purchasing an additional 148,600 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Basic Energy Services by 10.5% in the second quarter. BlackRock Inc. now owns 1,433,031 shares of the oil and gas company’s stock valued at $15,921,000 after purchasing an additional 136,623 shares in the last quarter.
Basic Energy Services Company Profile
Basic Energy Services, Inc provides well site services to oil and natural gas drilling and producing companies in the United States. Its Completion and Remedial Services segment offers pumping services, such as cementing, acidizing, fracturing, nitrogen, and pressure testing; rental and fishing tools; coiled tubing; snubbing services; thru-tubing; cased-hole wireline services; and underbalanced drilling in low pressure and fluid sensitive reservoirs.
Further Reading: Fundamental Analysis
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