Basic Energy Services Inc (NYSE:BAS) – Equities researchers at Seaport Global Securities dropped their Q3 2019 earnings estimates for shares of Basic Energy Services in a note issued to investors on Monday, August 12th. Seaport Global Securities analyst M. Urban now anticipates that the oil and gas company will post earnings of ($0.83) per share for the quarter, down from their prior estimate of ($0.47). Seaport Global Securities currently has a “Buy” rating and a $3.00 price target on the stock. Seaport Global Securities also issued estimates for Basic Energy Services’ Q4 2019 earnings at ($0.93) EPS, FY2019 earnings at ($3.80) EPS, Q1 2020 earnings at ($0.91) EPS, Q2 2020 earnings at ($0.62) EPS, Q3 2020 earnings at ($0.30) EPS, Q4 2020 earnings at ($0.36) EPS and FY2020 earnings at ($2.20) EPS.
Basic Energy Services (NYSE:BAS) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas company reported ($1.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by ($0.16). The business had revenue of $189.85 million during the quarter, compared to analyst estimates of $205.83 million. Basic Energy Services had a negative net margin of 14.97% and a negative return on equity of 50.17%.
Shares of BAS opened at $1.35 on Wednesday. The stock has a fifty day moving average of $1.81 and a two-hundred day moving average of $3.03. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.22 and a current ratio of 1.41. The company has a market capitalization of $40.27 million, a PE ratio of -0.37 and a beta of 2.40. Basic Energy Services has a fifty-two week low of $1.30 and a fifty-two week high of $12.12.
In other news, CEO Thomas Monroe Patterson acquired 51,750 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was acquired at an average cost of $1.90 per share, for a total transaction of $98,325.00. Following the acquisition, the chief executive officer now directly owns 466,882 shares in the company, valued at approximately $887,075.80. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ascribe Capital Llc acquired 311,970 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were purchased at an average price of $2.47 per share, with a total value of $770,565.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 408,720 shares of company stock valued at $957,191. Insiders own 3.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Advisers LP increased its holdings in Basic Energy Services by 542.2% in the 4th quarter. Two Sigma Advisers LP now owns 74,500 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 62,900 shares in the last quarter. BlackRock Inc. increased its holdings in Basic Energy Services by 6.3% in the 4th quarter. BlackRock Inc. now owns 1,575,672 shares of the oil and gas company’s stock valued at $6,051,000 after purchasing an additional 93,272 shares in the last quarter. Geode Capital Management LLC increased its holdings in Basic Energy Services by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 213,859 shares of the oil and gas company’s stock valued at $821,000 after purchasing an additional 8,744 shares in the last quarter. Virtu Financial LLC acquired a new stake in Basic Energy Services in the 1st quarter valued at $45,000. Finally, Deutsche Bank AG increased its holdings in Basic Energy Services by 794.0% in the 4th quarter. Deutsche Bank AG now owns 396,437 shares of the oil and gas company’s stock valued at $1,521,000 after purchasing an additional 352,093 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.
About Basic Energy Services
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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