Barclays Maintains an 'Equalweight' on Basic Energy Services (BAS); Adjusting PT and Estimates
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Price: $0.44 --0%
Rating Summary:
7 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
7 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on Basic Energy Services (NYSE: BAS) price target lowered from $30 to $26.
Analyst, James C. West, said, "We continue to believe Basic Energy Services will benefit from the continued shift toward drilling and workover activity in oil and liquids-rich plays, particularly the Permian Basin. Although lower natural gas prices and incremental pressure pumping capacity in key markets is likely to result in pricing concessions and lower margins, we continue to expect this to be mostly offset by relative strength for the company's other services lines."
West lowers FY2012 from $2.65 to $2.40 and FY13 from $3.00 to $2.60.
For an analyst ratings summary and ratings history on Basic Energy Services click here. For more ratings news on Basic Energy Services click here.
Shares of Basic Energy Services closed at $13.94 yesterday.
Analyst, James C. West, said, "We continue to believe Basic Energy Services will benefit from the continued shift toward drilling and workover activity in oil and liquids-rich plays, particularly the Permian Basin. Although lower natural gas prices and incremental pressure pumping capacity in key markets is likely to result in pricing concessions and lower margins, we continue to expect this to be mostly offset by relative strength for the company's other services lines."
West lowers FY2012 from $2.65 to $2.40 and FY13 from $3.00 to $2.60.
For an analyst ratings summary and ratings history on Basic Energy Services click here. For more ratings news on Basic Energy Services click here.
Shares of Basic Energy Services closed at $13.94 yesterday.
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