Equities research analysts expect Basic Energy Services Inc (NYSE:BAS) to announce ($0.90) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Basic Energy Services’ earnings, with estimates ranging from ($0.91) to ($0.88). Basic Energy Services reported earnings of ($0.94) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The company is expected to report its next quarterly earnings report on Thursday, November 7th.

On average, analysts expect that Basic Energy Services will report full year earnings of ($4.04) per share for the current fiscal year, with EPS estimates ranging from ($4.06) to ($4.02). For the next year, analysts forecast that the company will post earnings of ($3.19) per share, with EPS estimates ranging from ($3.37) to ($3.07). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Basic Energy Services.

Basic Energy Services (NYSE:BAS) last released its earnings results on Wednesday, July 31st. The oil and gas company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.16). Basic Energy Services had a negative net margin of 14.97% and a negative return on equity of 50.17%. The company had revenue of $189.85 million during the quarter, compared to analyst estimates of $205.83 million.

Several research firms have weighed in on BAS. Piper Jaffray Companies lowered Basic Energy Services from an “overweight” rating to a “neutral” rating and cut their target price for the company from $6.50 to $3.00 in a research note on Tuesday, June 25th. ValuEngine raised Basic Energy Services from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Seaport Global Securities set a $3.00 target price on Basic Energy Services and gave the company a “buy” rating in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $3.00.

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in Basic Energy Services by 4.4% in the fourth quarter. Bank of America Corp DE now owns 105,366 shares of the oil and gas company’s stock valued at $405,000 after buying an additional 4,443 shares during the period. Morgan Stanley lifted its stake in Basic Energy Services by 216.6% in the second quarter. Morgan Stanley now owns 14,635 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 10,012 shares during the period. Brave Asset Management Inc. increased its holdings in shares of Basic Energy Services by 73.1% in the second quarter. Brave Asset Management Inc. now owns 31,560 shares of the oil and gas company’s stock worth $60,000 after acquiring an additional 13,330 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Basic Energy Services by 10,697.6% in the second quarter. Tower Research Capital LLC TRC now owns 35,848 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 35,516 shares in the last quarter. Finally, Cetera Advisors LLC increased its holdings in shares of Basic Energy Services by 284.3% in the second quarter. Cetera Advisors LLC now owns 57,160 shares of the oil and gas company’s stock worth $109,000 after acquiring an additional 42,285 shares in the last quarter. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:BAS traded up $0.42 during mid-day trading on Tuesday, hitting $1.86. The company had a trading volume of 1,224,252 shares, compared to its average volume of 333,510. Basic Energy Services has a fifty-two week low of $1.21 and a fifty-two week high of $12.12. The business’s fifty day moving average is $1.53 and its two-hundred day moving average is $2.47. The company has a current ratio of 1.41, a quick ratio of 1.22 and a debt-to-equity ratio of 1.95.

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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Earnings History and Estimates for Basic Energy Services (NYSE:BAS)

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