Equities research analysts expect Basic Energy Services Inc (NYSE:BAS) to announce $231.50 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Basic Energy Services’ earnings. The lowest sales estimate is $230.00 million and the highest is $233.00 million. Basic Energy Services reported sales of $235.27 million in the same quarter last year, which would suggest a negative year over year growth rate of 1.6%. The firm is scheduled to issue its next quarterly earnings results on Monday, February 25th.
According to Zacks, analysts expect that Basic Energy Services will report full year sales of $965.50 million for the current fiscal year, with estimates ranging from $964.00 million to $967.00 million. For the next financial year, analysts anticipate that the business will post sales of $1.13 billion, with estimates ranging from $1.09 billion to $1.18 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Basic Energy Services.
Several brokerages recently issued reports on BAS. Zacks Investment Research upgraded shares of Basic Energy Services from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded shares of Basic Energy Services from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Basic Energy Services has a consensus rating of “Hold” and a consensus target price of $26.24.
In other Basic Energy Services news, major shareholder Ascribe Capital Llc purchased 5,174 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were bought at an average cost of $7.41 per share, for a total transaction of $38,339.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.95% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. NumerixS Investment Technologies Inc increased its stake in Basic Energy Services by 244.4% during the second quarter. NumerixS Investment Technologies Inc now owns 9,300 shares of the oil and gas company’s stock worth $105,000 after purchasing an additional 6,600 shares during the period. Penn Capital Management Co. Inc. acquired a new position in shares of Basic Energy Services during the second quarter worth about $131,000. Macquarie Group Ltd. grew its position in shares of Basic Energy Services by 408.3% during the second quarter. Macquarie Group Ltd. now owns 18,300 shares of the oil and gas company’s stock worth $203,000 after buying an additional 14,700 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Basic Energy Services during the second quarter worth about $220,000. Finally, OppenheimerFunds Inc. grew its position in shares of Basic Energy Services by 112.5% during the second quarter. OppenheimerFunds Inc. now owns 23,800 shares of the oil and gas company’s stock worth $264,000 after buying an additional 12,600 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.
BAS traded up $0.15 on Friday, hitting $8.16. The company had a trading volume of 337,743 shares, compared to its average volume of 484,649. The firm has a market cap of $223.68 million, a P/E ratio of -3.50 and a beta of 2.56. Basic Energy Services has a 1 year low of $7.20 and a 1 year high of $26.75. The company has a current ratio of 1.49, a quick ratio of 1.30 and a debt-to-equity ratio of 1.07.
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.
Featured Article: Conference Calls and Individual Investors
Get a free copy of the Zacks research report on Basic Energy Services (BAS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Basic Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Basic Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.