Basic Energy Services Inc (BAS) Expected to Post Quarterly Sales of $231.50 Million

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Equities analysts expect that Basic Energy Services Inc (NYSE:BAS) will report sales of $231.50 million for the current quarter, according to Zacks. Two analysts have issued estimates for Basic Energy Services’ earnings, with the highest sales estimate coming in at $233.00 million and the lowest estimate coming in at $230.00 million. Basic Energy Services posted sales of $235.27 million in the same quarter last year, which suggests a negative year over year growth rate of 1.6%. The company is scheduled to report its next earnings results on Monday, February 25th.

On average, analysts expect that Basic Energy Services will report full-year sales of $965.50 million for the current financial year, with estimates ranging from $964.00 million to $967.00 million. For the next year, analysts anticipate that the firm will report sales of $1.13 billion, with estimates ranging from $1.09 billion to $1.18 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Basic Energy Services.

A number of analysts have commented on BAS shares. ValuEngine cut shares of Basic Energy Services from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research raised shares of Basic Energy Services from a “sell” rating to a “hold” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.24.

In related news, major shareholder Ascribe Capital Llc acquired 5,174 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were bought at an average price of $7.41 per share, with a total value of $38,339.34. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.95% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Basic Energy Services by 30.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,935,658 shares of the oil and gas company’s stock worth $21,505,000 after purchasing an additional 452,039 shares in the last quarter. BlackRock Inc. boosted its position in shares of Basic Energy Services by 10.5% during the 2nd quarter. BlackRock Inc. now owns 1,433,031 shares of the oil and gas company’s stock worth $15,921,000 after purchasing an additional 136,623 shares in the last quarter. Royce & Associates LP boosted its position in shares of Basic Energy Services by 11.8% during the 2nd quarter. Royce & Associates LP now owns 1,402,661 shares of the oil and gas company’s stock worth $15,584,000 after purchasing an additional 148,600 shares in the last quarter. Northern Trust Corp boosted its position in shares of Basic Energy Services by 13.1% during the 2nd quarter. Northern Trust Corp now owns 233,769 shares of the oil and gas company’s stock worth $2,597,000 after purchasing an additional 27,070 shares in the last quarter. Finally, Dupont Capital Management Corp boosted its position in shares of Basic Energy Services by 2.4% during the 2nd quarter. Dupont Capital Management Corp now owns 210,050 shares of the oil and gas company’s stock worth $2,334,000 after purchasing an additional 5,000 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors.

BAS traded up $0.15 during trading on Friday, reaching $8.16. 337,743 shares of the stock traded hands, compared to its average volume of 484,649. The company has a current ratio of 1.49, a quick ratio of 1.30 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $223.68 million, a P/E ratio of -3.50 and a beta of 2.56. Basic Energy Services has a 12 month low of $7.20 and a 12 month high of $26.75.

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.

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

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