Revenue Update on Basic Energy Services Inc(NYSE:BAS)

Basic Energy Services Inc(NYSE:BAS) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Mar 23, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $155.526M. Analysts estimated a revenue of $145.000M. The revenues were 7.26% above the estimates. Earnings per share were $-1.18. The reported EPS was above estimates by 3.28%. Analysts had estimated an EPS of $-1.22.

In a different note, On Jan 19, 2017, Deutsche Bank said it Upgrades its rating on Basic Energy Services Inc. The shares have been rated ‘Buy’ by the firm. On Dec 29, 2016, Johnson Rice said it Upgrades its rating on Basic Energy Services Inc. The shares have been rated ‘Accumulate’ by the firm.

Basic Energy Services Inc (BAS) shares turned negative on Fridays trading session with the shares closing down -1.53 points or -4.60% at a volume of 4,56,476. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $35.44. The peak price level was also seen at $35.44 while the days lowest was $31.35. Finally the shares closed at $31.7. The 52-week high of the shares is $1852.9076 while the 52-week low is $29.36. According to the latest information available, the market cap of the company is $819 M.

Several Insider Transactions has been reported to the SEC. On Dec 28, 2016, Alan Krenek (SVP, CFO, Secretary, Treasurer) sold 11,745 shares at $36.00 per share price.Also, On Dec 28, 2016, William Timothy Dame (VP – Pumping Services) sold 4,982 shares at $36.00 per share price.On Dec 28, 2016, John Cody Bissett (VP, Controller and CAO) sold 2,270 shares at $36.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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’s operations are managed regionally and are concentrated in major United States onshore oil and natural gas producing regions located in Texas New Mexico Oklahoma Arkansas Kansas Louisiana Wyoming North Dakota Colorado Utah Montana West Virginia California Ohio and Pennsylvania. Its operations are focused on liquids-rich basins as well as natural gas-focused shale plays characterized by prolific reserves. It has a presence in the Permian Basin and the Bakken Eagle Ford Haynesville and Marcellus shales. It provides its services to around 2000 oil and gas companies. Its operating segments are Completion and Remedial Services Fluid Services Well Servicing and Contract Drilling.

Add Comment