Basic Energy Services Inc (BAS) is Downgraded by Johnson Rice to Hold

Basic Energy Services Inc (BAS) was Downgraded by Johnson Rice to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Johnson Rice advised their investors in a research report released on Jul 25, 2016.

Many Wall Street Analysts have commented on Basic Energy Services Inc. Basic Energy Services Inc was Downgraded by Iberia to ” Sector Perform” on Jul 25, 2016.

On the company’s financial health, Basic Energy Services Inc reported $-1.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Oct 22, 2015. Analyst had a consensus of $-1.17. The company had revenue of $189.25 million for the quarter, compared to analysts expectations of $187.73 million. The company’s revenue was down -52.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.24 EPS.

Basic Energy Services Inc closed down -0.06 points or -4.51% at $1.27 with 8,72,760 shares getting traded on Wednesday. Post opening the session at $1.35, the shares hit an intraday low of $1.26 and an intraday high of $1.35 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 7, 2016, Eric Lannen (Vice President -Human Resource) purchased 4,200 shares at $2.35 per share price. According to the SEC, on Dec 16, 2015, Thomas Monroe Patterson (CEO) purchased 12,000 shares at $2.37 per share price. On Aug 27, 2015, Steven A Webster (director) purchased 86,600 shares at $3.46 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.

Basic Energy Services Inc

Leave a Reply

Basic Energy Services Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Basic Energy Services Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.