Thu, Oct. 22, 11:58 PM
Wed, Oct. 21, 5:35 PM
- ACTG, ALGN, ALTR, AMZN, ATHN, BAS, BCR, BJRI, BYD, CHE, COF, CYN, CYT, DV, EGHT, ETFC, FET, FII, FSL, FTNT, GHL, GIMO, GOOG, HBHC, HURN, IG, JNPR, LHO, LOGM, LSTR, MKTO, MSFT, MXIM, N, NTGR, P, PACB, PEB, PFG, QLGC, QLIK, QSII, RMD, SHOR, SIVB, SKX, SMCI, SPNC, SRCL, SWN, SYK, SYNA, T, TRN, UCTT, VRSN, WRE
Mon, Oct. 5, 12:46 PM
Wed, Sep. 30, 11:24 AM
- Basic Energy Services (BAS -4.7%) is downgraded to In-line from Outperform with a $4.75 price target, cut from $10, at Imperial Capital.
- The firm believes that while BAS is well positioned to ultimately benefit from a recovery in U.S. onshore E&P activity given its diverse service mix and attractive geographic footprint, it views near-term upside as limited, as "the industry downturn poses risk to earnings, balance sheet leverage is substantial, and the stock trades at a premium to peers."
- BAS exited Q2 with $208M in liquidity, which Imperial says should prove sufficient to fund the company’s business needs over the next 12-18 months.
Fri, Sep. 11, 12:44 PM
Mon, Aug. 31, 3:17 PM
- Basic Energy Services (BAS +10.2%) is upgraded to Hold from Sell with a $4 price target at Wunderlich, which says the company continues to forge ahead in a difficult oilfield services environment, and insider buying should provide support to the shares at current levels.
- The firm foresees an end to the 50% drop in the BAS stock that followed Q2 results and concerns about Q3 guidance.
- BAS still has more than $200M in liquidity, already made a good deal with its banks as far as its credit facility, and should still generate cash flow even in a tough market, Wunderlich adds.
Tue, Aug. 25, 9:19 AM| Tue, Aug. 25, 9:19 AM | 7 Comments
Thu, Jul. 30, 11:39 PM
Wed, Jul. 29, 5:35 PM
- AIV, AMCC, AMGN, ATEN, AUY, AVD, AXTI, BAS, BCOR, BCOV, BRCM, BVN, CALD, CATM, CLW, CMLS, COHR, COLM, CPSI, CPT, CRAY, CTRL, CXP, DCT, DECK, DGI, DLR, DTLK, EA, EEP, EGO, EIX, ELLI, ES, ESS, EVHC, EXPE, FE, FEIC, FEYE, FLR, FLS, FR, FRGI, GB, GMED, HBI, HK, HME, HTCH, IM, IMMR, INT, ISBC, KAMN, KLAC, LEG, LNKD, LRE, LSCC, MOH, MTD, MTSN, MWA, MXWL, NGVC, NR, NSR, OLN, OMCL, OUTR, PCCC, PDFS, PKI, PODD, PTCT, PXLW, QLGC, QTM, RGC, RMD, RNG, ROVI, SAM, SB, SGEN, SKYW, SPF, SPN, SYA, SYNA, SZYM, TCO, TEP, TMST, TNAV, TNDM, TPX, TSYS, TXTR, UHS, VCRA, VVUS, WAGE, WBMD, WU, WWWW, YRCW, ZLTQ
Fri, Jul. 10, 2:23 PM
- Basic Energy Services (BAS -1.1%) is lower after reiterating its forecast for a 22%-24% revenue decline compared with the prior quarter.
- Last month, BAS cut its outlook compared with previous guidance anticipating a 10%-15% Q/Q drop in revenue following record rainfall through much of its operating regions during May.
- BAS says its rig count remained steady at 421 during June for a 16th consecutive month; well servicing hours in June rose to 55,800 from 48,200 hours during May.
Fri, Jun. 12, 3:58 PM
- Basic Energy Services (BAS +2.4%) is higher despite increasing its projected Q2 revenue decline to 22%-24% Q/Q compared with prior expectations for a 10%-15% drop, due mostly to adverse weather earlier in the quarter.
- BAS says its well servicing rig count remains unchanged at 421, with May well servicing rig hours at 48.2K, producing a rig utilization rate of 50% vs. 50% in the prior month and 70% in May 2014.
- Says price concessions are starting to stabilize in most operating markets, and well servicing and fluid services utilization appears to have reached steady levels with potential for slight improvement through the summer months.
Thu, Apr. 23, 10:14 PM
Thu, Apr. 23, 10:14 PM
Wed, Apr. 22, 5:35 PM
- ACTG, ALGN, ALTR, AMZN, AWAY, BAS, BCR, BGS, BJRI, BLDR, CB, CBI, COF, CPHD, CVTI, CYN, DGII, DV, EFII, ELY, ETFC, ETH, FET, FICO, FII, FR, FSL, GHL, GIMO, GOOG, HA, HBHC, HBI, HUBG, HWAY, JNPR, KLAC, KN, LSTR, MKTO, MMSI, MSCC, MSFT, MTSN, MXIM, MXWL, N, NEM, NTGR, P, PEB, PFG, QDEL, QLIK, RGA, RHI, RMD, RSG, SBAC, SBUX, SFG, SHOR, SIVB, SPNC, SRCL, SWN, SYA, SYNA, TRN, UIS, VCRA, VRSN, WIRE, WRE
Mon, Apr. 13, 12:44 PM
Mon, Apr. 13, 11:24 AM
- "No one (including us) has a really good handle on energy industry earnings estimates over the next few years," says J. Marshall Adkins and team at Raymond James, downgrading Cameron International (CAM -1%), Nabors Industries (NBR -0.3%), Schlumberger (SLB -0.8%), FMC Technologies (FTI -1.5%), and Basic Energy Services (BAS -6.6%).
- Nevertheless, Adkins gives it his best shot and his numbers are well below the Street for 2015 and 2016. Then there's valuations, and the recent surge in prices has left them less than compelling.
- Noted is substantial pricing pressur and overcapacity in many business lines, a more prolonged downturn internationally, and offshore activity not expected to see even a moderate uptick for several years.
- Source: Barron's
- Previously: Schlumberger slips as Raymond James heads to the sidelines (April 13)
- Previously: Raymond James throws in the towel on oil services (April 13)
Basic Energy Services Inc provides well site services to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling in the United States.
Other News & PR