Brokerages forecast that Basic Energy Services, Inc. (NYSE:BAS) will post earnings per share (EPS) of ($0.28) for the current quarter, Zacks reports. Three analysts have made estimates for Basic Energy Services’ earnings, with the lowest EPS estimate coming in at ($0.35) and the highest estimate coming in at ($0.19). Basic Energy Services reported earnings per share of ($1.18) during the same quarter last year, which would suggest a positive year-over-year growth rate of 76.3%. The company is scheduled to announce its next earnings report on Thursday, March 22nd.

On average, analysts expect that Basic Energy Services will report full year earnings of ($1.95) per share for the current financial year, with EPS estimates ranging from ($2.03) to ($1.86). For the next fiscal year, analysts forecast that the company will post earnings of ($0.77) per share, with EPS estimates ranging from ($1.79) to ($0.21). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Basic Energy Services.

A number of research analysts recently issued reports on the stock. Seaport Global Securities raised shares of Basic Energy Services from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Credit Suisse Group lifted their price objective on shares of Basic Energy Services from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, November 6th. Piper Jaffray Companies reissued a “hold” rating and issued a $24.50 price objective on shares of Basic Energy Services in a research note on Friday, November 17th. Zacks Investment Research raised shares of Basic Energy Services from a “sell” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Monday, October 2nd. Finally, ValuEngine cut shares of Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Basic Energy Services presently has an average rating of “Hold” and a consensus target price of $26.92.

In other Basic Energy Services news, SVP James F. Newman sold 5,000 shares of the firm’s stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $23.57, for a total value of $117,850.00. Following the sale, the senior vice president now owns 29,753 shares in the company, valued at $701,278.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO John Cody Bissett sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $23.40, for a total transaction of $128,700.00. Following the completion of the sale, the chief accounting officer now owns 3,749 shares in the company, valued at approximately $87,726.60. The disclosure for this sale can be found here. Insiders sold 1,465,882 shares of company stock worth $33,975,710 over the last three months. 11.10% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Legal & General Group Plc acquired a new stake in Basic Energy Services in the second quarter valued at approximately $112,000. Nationwide Fund Advisors acquired a new stake in Basic Energy Services in the second quarter valued at approximately $245,000. Dynamic Technology Lab Private Ltd acquired a new stake in Basic Energy Services in the third quarter valued at approximately $264,000. Russell Investments Group Ltd. boosted its position in Basic Energy Services by 7.6% in the second quarter. Russell Investments Group Ltd. now owns 12,149 shares of the oil and gas company’s stock valued at $303,000 after buying an additional 853 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Basic Energy Services by 107.1% in the second quarter. Parametric Portfolio Associates LLC now owns 13,350 shares of the oil and gas company’s stock valued at $332,000 after buying an additional 6,905 shares in the last quarter.

Basic Energy Services (NYSE:BAS) opened at $25.60 on Friday. The stock has a market cap of $664.50, a P/E ratio of -3.93 and a beta of 2.98. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 1.42. Basic Energy Services has a one year low of $14.03 and a one year high of $44.81.

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

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