Brokers Set Expectations for Basic Energy Services, Inc.’s Q3 2017 Earnings (BAS)
Basic Energy Services, Inc. (NYSE:BAS) – Equities research analysts at Capital One Financial Corporation lifted their Q3 2017 earnings estimates for Basic Energy Services in a research note issued on Monday. Capital One Financial Corporation analyst L. Lemoine now expects that the oil and gas company will earn ($0.45) per share for the quarter, up from their previous estimate of ($0.46).
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A number of other analysts have also weighed in on the company. Deutsche Bank AG assumed coverage on Basic Energy Services in a report on Tuesday. They set a “hold” rating and a $22.00 target price for the company. Zacks Investment Research lowered Basic Energy Services from a “buy” rating to a “sell” rating in a report on Wednesday, October 4th. Credit Suisse Group restated a “neutral” rating and set a $21.00 target price (down previously from $30.00) on shares of Basic Energy Services in a report on Monday, September 25th. Piper Jaffray Companies restated a “hold” rating and set a $26.50 target price on shares of Basic Energy Services in a report on Friday, September 8th. Finally, Evercore ISI restated an “outperform” rating and set a $19.00 target price on shares of Basic Energy Services in a report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Basic Energy Services currently has a consensus rating of “Hold” and a consensus price target of $26.92.
Basic Energy Services (NYSE:BAS) opened at 18.78 on Wednesday. Basic Energy Services has a 52 week low of $14.80 and a 52 week high of $44.75. The stock’s market cap is $463.19 million. The firm’s 50-day moving average price is $17.70 and its 200-day moving average price is $17.70.
In other Basic Energy Services news, Director Timothy H. Day acquired 15,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was purchased at an average price of $18.69 per share, for a total transaction of $280,350.00. Following the acquisition, the director now owns 20,200 shares in the company, valued at approximately $377,538. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Samuel E. Langford acquired 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were acquired at an average price of $14.20 per share, with a total value of $28,400.00. Following the acquisition, the director now owns 6,300 shares in the company, valued at approximately $89,460. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 29,000 shares of company stock valued at $509,990 and have sold 13,957 shares valued at $246,688. Corporate insiders own 11.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of BAS. Key Group Holdings Cayman LTD. purchased a new stake in shares of Basic Energy Services during the 2nd quarter valued at $40,639,000. Janus Henderson Group PLC purchased a new stake in shares of Basic Energy Services during the 2nd quarter valued at $25,018,000. Vanguard Group Inc. purchased a new stake in shares of Basic Energy Services during the 1st quarter valued at $20,818,000. State Street Corp purchased a new stake in shares of Basic Energy Services during the 2nd quarter valued at $15,122,000. Finally, Southpoint Capital Advisors LP purchased a new stake in shares of Basic Energy Services during the 1st quarter valued at $18,348,000.
Basic Energy Services Company Profile
Basic Energy Services, Inc provides a range of well site services in the United States to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling. The Company operates through the segment, which include Completion and Remedial Services, Fluid Services, Well Servicing and Contract Drilling.
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