Basic Energy Services Inc Forecasted to Post Q2 2019 Earnings of ($0.81) Per Share (NYSE:BAS)
Basic Energy Services Inc (NYSE:BAS) – Research analysts at Seaport Global Securities decreased their Q2 2019 earnings per share (EPS) estimates for shares of Basic Energy Services in a research report issued on Monday, June 10th. Seaport Global Securities analyst M. Urban now forecasts that the oil and gas company will earn ($0.81) per share for the quarter, down from their prior forecast of ($0.72). Seaport Global Securities currently has a “Buy” rating and a $3.00 price objective on the stock. Seaport Global Securities also issued estimates for Basic Energy Services’ Q3 2019 earnings at ($0.47) EPS, Q4 2019 earnings at ($0.57) EPS, FY2019 earnings at ($2.85) EPS, Q1 2020 earnings at ($0.75) EPS, Q2 2020 earnings at ($0.35) EPS, Q3 2020 earnings at ($0.02) EPS, Q4 2020 earnings at ($0.15) EPS and FY2020 earnings at ($1.25) EPS.
Basic Energy Services (NYSE:BAS) last issued its quarterly earnings results on Thursday, May 9th. The oil and gas company reported ($1.02) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.19. Basic Energy Services had a negative return on equity of 41.96% and a negative net margin of 15.27%. The firm had revenue of $197.20 million during the quarter, compared to the consensus estimate of $202.40 million.
Shares of NYSE:BAS opened at $1.94 on Thursday. Basic Energy Services has a 1-year low of $1.58 and a 1-year high of $13.25. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.30 and a current ratio of 1.49.
In other Basic Energy Services news, major shareholder Ascribe Capital Llc acquired 311,970 shares of Basic Energy Services stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average cost of $2.47 per share, for a total transaction of $770,565.90. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas Monroe Patterson acquired 51,750 shares of Basic Energy Services stock in a transaction that occurred on Monday, June 3rd. The stock was acquired at an average price of $1.90 per share, with a total value of $98,325.00. Following the completion of the acquisition, the chief executive officer now directly owns 466,882 shares in the company, valued at approximately $887,075.80. The disclosure for this purchase can be found here. Insiders purchased a total of 408,720 shares of company stock valued at $957,191 over the last quarter. 3.90% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAS. Dupont Capital Management Corp grew its stake in shares of Basic Energy Services by 20.0% during the 4th quarter. Dupont Capital Management Corp now owns 210,050 shares of the oil and gas company’s stock valued at $807,000 after purchasing an additional 35,000 shares during the period. Ascribe Capital LLC grew its stake in shares of Basic Energy Services by 7.0% during the 4th quarter. Ascribe Capital LLC now owns 4,180,238 shares of the oil and gas company’s stock valued at $16,052,000 after purchasing an additional 272,702 shares during the period. Two Sigma Advisers LP grew its stake in shares of Basic Energy Services by 542.2% during 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 during the period. BlackRock Inc. grew its stake in shares of Basic Energy Services by 6.3% during 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 during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Basic Energy Services by 4,064.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 162,233 shares of the oil and gas company’s stock valued at $1,620,000 after buying an additional 158,337 shares in the last quarter. Institutional investors own 87.79% of the company’s stock.
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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