Basic Energy Services Inc. (NYSE:BAS) – Imperial Capital increased their FY2016 earnings per share (EPS) estimates for Basic Energy Services in a research report issued to clients and investors on Tuesday. Imperial Capital analyst S. Levine now expects that the brokerage will earn ($5.25) per share for the year, up from their previous forecast of ($5.28). Imperial Capital has a “Hold” rating on the stock. Imperial Capital also issued estimates for Basic Energy Services’ Q4 2016 earnings at ($1.28) EPS, FY2017 earnings at ($4.34) EPS and FY2018 earnings at ($2.83) EPS.
Basic Energy Services (NYSE:BAS) last issued its quarterly earnings data on Thursday, July 21st. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.38) by $0.04.
Several other brokerages have also commented on BAS. Jefferies Group raised their price target on shares of Basic Energy Services from $1.00 to $1.50 and gave the company a “hold” rating in a research note on Monday, July 11th. Johnson Rice lowered shares of Basic Energy Services from a “buy” rating to a “hold” rating in a research note on Monday. Zacks Investment Research upgraded shares of Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Friday, April 22nd. Wunderlich dropped their price target on shares of Basic Energy Services from $2.00 to $1.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Nomura assumed coverage on shares of Basic Energy Services in a report on Friday, April 8th. They issued a “neutral” rating and a $3.00 price objective for the company. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and two have assigned a buy rating to the company’s stock. Basic Energy Services currently has an average rating of “Hold” and a consensus target price of $2.97.
A hedge fund recently raised its stake in Basic Energy Services stock. First Trust Advisors LP boosted its position in Basic Energy Services Inc. (NYSE:BAS) by 81.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 606,935 shares of the company’s stock after buying an additional 272,070 shares during the period. First Trust Advisors LP owned 1.50% of Basic Energy Services worth $1,627,000 as of its most recent filing with the SEC.
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.
