Wall Street brokerages expect that Basic Energy Services, Inc. (NYSE:BAS) will announce $239.39 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Basic Energy Services’ earnings, with the highest sales estimate coming in at $244.00 million and the lowest estimate coming in at $232.48 million. Basic Energy Services posted sales of $155.53 million in the same quarter last year, which indicates a positive year over year growth rate of 53.9%. The company is expected to report its next earnings report after the market closes on Thursday, March 1st.
According to Zacks, analysts expect that Basic Energy Services will report full-year sales of $239.39 million for the current year, with estimates ranging from $861.25 million to $871.00 million. For the next year, analysts forecast that the company will post sales of $1.08 billion per share, with estimates ranging from $1.06 billion to $1.09 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Basic Energy Services.
Several equities analysts recently weighed in on the stock. ValuEngine lowered shares of Basic Energy Services from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 8th. Piper Jaffray Companies reissued a “hold” rating and issued a $24.50 price target on shares of Basic Energy Services in a research report on Friday, November 17th. Zacks Investment Research raised shares of Basic Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Credit Suisse Group lifted their price target on shares of Basic Energy Services from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. Finally, Seaport Global Securities reissued a “buy” rating and issued a $40.00 price target on shares of Basic Energy Services in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Basic Energy Services presently has a consensus rating of “Hold” and a consensus price target of $28.44.
In other news, Director Silver Point Capital L.P. sold 186,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $23.82, for a total value of $4,430,520.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas Monroe Patterson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $24.68, for a total transaction of $37,020.00. Following the completion of the sale, the insider now owns 93,979 shares in the company, valued at approximately $2,319,401.72. The disclosure for this sale can be found here. In the last three months, insiders sold 1,010,885 shares of company stock worth $24,322,486. Insiders own 0.69% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. TIAA CREF Investment Management LLC grew its stake in shares of Basic Energy Services by 222.5% in the fourth quarter. TIAA CREF Investment Management LLC now owns 205,779 shares of the oil and gas company’s stock worth $4,830,000 after acquiring an additional 141,962 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Basic Energy Services by 62.9% in the fourth quarter. Teachers Advisors LLC now owns 79,014 shares of the oil and gas company’s stock worth $1,854,000 after acquiring an additional 30,495 shares during the last quarter. HBK Investments L P grew its stake in shares of Basic Energy Services by 13.4% in the fourth quarter. HBK Investments L P now owns 298,300 shares of the oil and gas company’s stock worth $7,001,000 after acquiring an additional 35,300 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Basic Energy Services in the fourth quarter worth $239,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Basic Energy Services by 33.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 255,370 shares of the oil and gas company’s stock worth $5,994,000 after acquiring an additional 64,550 shares during the last quarter.
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About Basic Energy Services
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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