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

Basic Energy Services Inc(NYSE:BAS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 21, 2016. Company reported revenue of $120.00M. Analysts estimated a revenue of $122.49M. Earnings per share were $-1.34. Analysts had estimated an EPS of $-1.40.

In a different note, On Jul 11, 2016, Jefferies said it Maintains its rating on Basic Energy Services Inc. In the research note, the firm Lowers the price-target to $1.00 per share. The shares have been rated ‘Hold’ by the firm.

Basic Energy Services Inc (BAS) shares turned negative on Wednesdays trading session with the shares closing down -0.06 points or -4.51% at a volume of 8,72,760. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.35. The peak price level was also seen at $1.35 while the days lowest was $1.26. Finally the shares closed at $1.27. The 52-week high of the shares is $7.18 while the 52-week low is $1.26. According to the latest information available, the market cap of the company is $54 M.

Several Insider Transactions has been reported to the SEC. On Mar 7, 2016, Eric Lannen (Vice President -Human Resource) purchased 4,200 shares at $2.35 per share price.Also, 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.

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