Wall Street analysts expect Basic Energy Services Inc (NYSE:BAS) to announce sales of $207.50 million for the current quarter, Zacks reports. Three analysts have provided estimates for Basic Energy Services’ earnings. The highest sales estimate is $209.00 million and the lowest is $205.00 million. Basic Energy Services posted sales of $253.37 million during the same quarter last year, which suggests a negative year-over-year growth rate of 18.1%. The firm is expected to report its next earnings report on Tuesday, July 30th.
On average, analysts expect that Basic Energy Services will report full-year sales of $843.07 million for the current fiscal year, with estimates ranging from $834.00 million to $848.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $947.47 million, with estimates ranging from $929.00 million to $958.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Basic Energy Services.
Basic Energy Services (NYSE:BAS) last posted its quarterly earnings results on Thursday, May 9th. The oil and gas company reported ($1.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.19. The business had revenue of $197.20 million during the quarter, compared to the consensus estimate of $202.40 million. Basic Energy Services had a negative net margin of 15.27% and a negative return on equity of 41.96%.
In related news, major shareholder Ascribe Capital Llc purchased 311,970 shares of Basic Energy Services stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average cost of $2.47 per share, for a total transaction of $770,565.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James D. Kern purchased 20,000 shares of Basic Energy Services stock in a transaction dated Monday, June 3rd. The shares were bought at an average price of $1.99 per share, with a total value of $39,800.00. Following the completion of the acquisition, the director now directly owns 66,100 shares of the company’s stock, valued at $131,539. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 408,720 shares of company stock valued at $957,191. 3.90% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Spark Investment Management LLC lifted its position in shares of Basic Energy Services by 77.2% during the first quarter. Spark Investment Management LLC now owns 463,700 shares of the oil and gas company’s stock worth $1,762,000 after purchasing an additional 202,000 shares during the last quarter. Brave Asset Management Inc. acquired a new position in shares of Basic Energy Services during the first quarter valued at approximately $69,000. Dupont Capital Management Corp increased its stake in shares of Basic Energy Services by 5.7% during the first quarter. Dupont Capital Management Corp now owns 222,050 shares of the oil and gas company’s stock valued at $844,000 after acquiring an additional 12,000 shares during the period. Virtu Financial LLC acquired a new position in shares of Basic Energy Services during the first quarter valued at approximately $45,000. Finally, Deutsche Bank AG increased its stake in shares of Basic Energy Services by 794.0% during the fourth quarter. Deutsche Bank AG now owns 396,437 shares of the oil and gas company’s stock valued at $1,521,000 after acquiring an additional 352,093 shares during the period. 87.79% of the stock is currently owned by institutional investors.
BAS traded down $0.40 during mid-day trading on Thursday, reaching $2.03. 613,847 shares of the stock were exchanged, compared to its average volume of 370,013. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.49 and a quick ratio of 1.30. The stock has a market capitalization of $71.17 million, a PE ratio of -0.56 and a beta of 2.49. The business has a 50 day moving average of $2.24. Basic Energy Services has a 1 year low of $1.58 and a 1 year high of $12.41.
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. The company operates through Completion and Remedial Services, Well Servicing, Water Logistics, and Contract Drilling segments. The 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; underbalanced drilling in low pressure and fluid sensitive reservoirs; and cased-hole wireline services.
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