Basic Energy Services, Inc. (BAS) Expected to Announce Quarterly Sales of $243.56 Million

Analysts expect Basic Energy Services, Inc. (NYSE:BAS) to announce $243.56 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Basic Energy Services’ earnings. The lowest sales estimate is $241.70 million and the highest is $244.98 million. Basic Energy Services posted sales of $155.53 million in the same quarter last year, which suggests a positive year over year growth rate of 56.6%. The firm is scheduled to announce its next quarterly earnings results on Thursday, March 22nd.

According to Zacks, analysts expect that Basic Energy Services will report full year sales of $243.56 million for the current year, with estimates ranging from $870.00 million to $873.76 million. For the next year, analysts expect that the firm will report sales of $1.07 billion per share, with estimates ranging from $1.05 billion to $1.09 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Basic Energy Services.

Basic Energy Services (NYSE:BAS) last issued its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.24) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.19. Basic Energy Services had a negative return on equity of 24.91% and a negative net margin of 29.23%. The business had revenue of $233.46 million during the quarter, compared to analysts’ expectations of $229.44 million.

BAS has been the subject of several research reports. ValuEngine cut Basic Energy Services from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Seaport Global Securities upgraded Basic Energy Services from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Deutsche Bank initiated coverage on Basic Energy Services in a research note on Tuesday, October 10th. They set a “hold” rating and a $22.00 price objective for the company. Piper Jaffray Companies restated a “hold” rating and set a $24.50 price objective on shares of Basic Energy Services in a research note on Friday, November 17th. Finally, Credit Suisse Group upped their price objective on Basic Energy Services from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Basic Energy Services has an average rating of “Hold” and a consensus price target of $28.44.

Shares of Basic Energy Services (NYSE:BAS) opened at $22.33 on Thursday. Basic Energy Services has a 1-year low of $14.03 and a 1-year high of $44.81. The firm has a market capitalization of $623.63 and a price-to-earnings ratio of -3.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 1.42.

In related news, insider Thomas Monroe Patterson sold 1,500 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $19.28, for a total transaction of $28,920.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Silver Point Capital L.P. sold 875,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $22.75, for a total value of $19,906,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,893,292 shares of company stock valued at $44,381,288 over the last 90 days. 0.69% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in BAS. Schwab Charles Investment Management Inc. acquired a new position in shares of Basic Energy Services in the second quarter valued at about $1,090,000. Rhumbline Advisers acquired a new position in shares of Basic Energy Services in the second quarter valued at about $534,000. Bank of New York Mellon Corp increased its holdings in shares of Basic Energy Services by 333.6% in the second quarter. Bank of New York Mellon Corp now owns 120,983 shares of the oil and gas company’s stock valued at $3,012,000 after purchasing an additional 93,082 shares during the period. Legal & General Group Plc acquired a new position in shares of Basic Energy Services in the second quarter valued at about $112,000. Finally, Swiss National Bank acquired a new position in shares of Basic Energy Services in the second quarter valued at about $904,000.

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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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