Basic Energy Services, Inc. (NYSE:BAS) – Equities research analysts at Seaport Global Securities cut their FY2017 EPS estimates for Basic Energy Services in a report released on Monday. Seaport Global Securities analyst M. Urban now anticipates that the oil and gas company will earn ($2.14) per share for the year, down from their prior estimate of ($2.03). Seaport Global Securities has a “Buy” rating and a $40.00 price objective on the stock. Seaport Global Securities also issued estimates for Basic Energy Services’ Q4 2017 earnings at ($0.47) EPS.
BAS has been the subject of several other reports. ValuEngine raised shares of Basic Energy Services from a “sell” rating to a “hold” rating in a report on Thursday. Credit Suisse Group raised their price target on shares of Basic Energy Services from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, November 6th. Stephens assumed coverage on shares of Basic Energy Services in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $26.00 price target for the company. Piper Jaffray Companies reissued a “hold” rating and issued a $24.50 price target on shares of Basic Energy Services in a report on Friday, November 17th. Finally, Zacks Investment Research raised shares of Basic Energy Services from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $28.44.
Basic Energy Services (NYSE:BAS) last announced its quarterly earnings results on Monday, February 26th. The oil and gas company reported ($0.55) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.15). Basic Energy Services had a negative net margin of 11.19% and a negative return on equity of 15.82%. The firm had revenue of $235.27 million during the quarter, compared to the consensus estimate of $232.46 million.
In other news, VP William Timothy Dame sold 3,859 shares of Basic Energy Services stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $24.19, for a total transaction of $93,349.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Silver Point Capital L.P. sold 278,000 shares of Basic Energy Services stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $24.01, for a total transaction of $6,674,780.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,009,885 shares of company stock valued at $24,290,791 over the last ninety days. 11.10% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Phocas Financial Corp. lifted its holdings in shares of Basic Energy Services by 112.2% during the 4th quarter. Phocas Financial Corp. now owns 349,104 shares of the oil and gas company’s stock worth $8,193,000 after acquiring an additional 184,589 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Basic Energy Services during the 4th quarter worth $221,000. Municipal Employees Retirement System of Michigan purchased a new position in Basic Energy Services in the 4th quarter worth $922,000. Millennium Management LLC raised its position in Basic Energy Services by 46.9% in the 4th quarter. Millennium Management LLC now owns 1,000,893 shares of the oil and gas company’s stock worth $23,491,000 after purchasing an additional 319,716 shares during the period. Finally, Cushing Asset Management LP raised its position in Basic Energy Services by 222.7% in the 4th quarter. Cushing Asset Management LP now owns 32,272 shares of the oil and gas company’s stock worth $757,000 after purchasing an additional 22,272 shares during the period.
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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