$257.50 Million in Sales Expected for Basic Energy Services Inc (BAS) This Quarter

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Wall Street analysts forecast that Basic Energy Services Inc (NYSE:BAS) will report $257.50 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Basic Energy Services’ earnings, with the lowest sales estimate coming in at $257.00 million and the highest estimate coming in at $258.00 million. Basic Energy Services reported sales of $213.30 million in the same quarter last year, which indicates a positive year-over-year growth rate of 20.7%. The business is scheduled to report its next quarterly earnings report on Thursday, July 26th.

On average, analysts expect that Basic Energy Services will report full-year sales of $1.06 billion for the current year, with estimates ranging from $1.03 billion to $1.08 billion. For the next year, analysts expect that the firm will report sales of $1.20 billion per share, with estimates ranging from $1.14 billion to $1.24 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Basic Energy Services.

Basic Energy Services (NYSE:BAS) last posted its quarterly earnings results on Thursday, May 3rd. The oil and gas company reported ($0.87) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.66) by ($0.21). Basic Energy Services had a negative net margin of 9.66% and a negative return on equity of 17.01%. The business had revenue of $234.67 million during the quarter.

A number of analysts have weighed in on the company. Zacks Investment Research cut Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. ValuEngine cut Basic Energy Services from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, Piper Jaffray Companies set a $19.00 price target on Basic Energy Services and gave the company a “hold” rating in a research note on Sunday, April 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $23.53.

Basic Energy Services traded up $0.35, reaching $11.44, during midday trading on Thursday, Marketbeat reports. The company’s stock had a trading volume of 483,900 shares, compared to its average volume of 534,382. Basic Energy Services has a fifty-two week low of $10.29 and a fifty-two week high of $29.58. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.36. The stock has a market cap of $292.96 million, a PE ratio of -4.92 and a beta of 2.63.

In other Basic Energy Services news, VP William Timothy Dame sold 11,878 shares of the firm’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $15.15, for a total transaction of $179,951.70. Following the transaction, the vice president now owns 11,877 shares of the company’s stock, valued at $179,936.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 17,278 shares of company stock worth $256,086. Corporate insiders own 1.95% of the company’s stock.

Several hedge funds have recently modified their holdings of BAS. Dimensional Fund Advisors LP grew its holdings in shares of Basic Energy Services by 60.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,483,619 shares of the oil and gas company’s stock worth $21,423,000 after purchasing an additional 560,216 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Basic Energy Services by 117.9% during the fourth quarter. Deutsche Bank AG now owns 658,045 shares of the oil and gas company’s stock worth $15,443,000 after purchasing an additional 356,097 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Basic Energy Services by 46.9% during the fourth quarter. Millennium Management LLC now owns 1,000,893 shares of the oil and gas company’s stock worth $23,491,000 after purchasing an additional 319,716 shares during the last quarter. Phocas Financial Corp. grew its holdings in shares of Basic Energy Services by 112.2% during the fourth quarter. Phocas Financial Corp. now owns 349,104 shares of the oil and gas company’s stock worth $8,193,000 after purchasing an additional 184,589 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of Basic Energy Services by 44.1% during the first quarter. Thompson Siegel & Walmsley LLC now owns 551,683 shares of the oil and gas company’s stock worth $7,966,000 after purchasing an additional 168,703 shares during the last quarter.

About Basic Energy Services

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.

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Earnings History and Estimates for Basic Energy Services (NYSE:BAS)

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