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What Lies ahead for Basic Energy Services in 2017

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Part 7
What Lies ahead for Basic Energy Services in 2017 PART 7 OF 7

Basic Energy Services Stock: What Wall Street Recommends

Analysts’ recommendations on Basic Energy Services

In this article, we’ll look at changes in Wall Street analysts’ recommendations for Basic Energy Services (BAS).Basic Energy Services Stock: What Wall Street Recommends

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Analysts’ rating for Basic Energy Services

On September 22, ~57% of Wall Street analysts tracking Basic Energy Services rated it a “buy” or some equivalent, according to data compiled by Reuters. Approximately 43% of analysts rated BAS a “hold.” None of the analysts rated it a “sell” or equivalent.

By comparison, approximately 11% of sell-side analysts tracking CARBO Ceramics (CRR) rated it a “buy” or some equivalent on September 22 while 78% rated it a “hold.”

Analysts’ rating changes for BAS

From June 22 to September 22 the percentage of analysts recommending a “buy” or equivalent for BAS has fallen from 60% to 57%. Analysts’ “hold” recommendations have risen for BAS during this period. A year ago, ~17% of sell-side analysts recommended a “buy” for BAS. BAS is 2.0% of the SPDR S&P Oil & Gas Equipment & Services ETF (XES). The S&P 500 Index (SPX-INDEX) rose 11% year-to-date versus a 50% fall in BAS’s stock price.

Analysts’ target prices for BAS and peers

Wall Street analysts’ median target price for BAS on September 22 was $25.1. BAS is currently trading at $17.2, implying ~45% upside to its current mean price. A month ago, analysts’ average target price for BAS was $31.4. In June 2017, analysts’ one-year target price for BAS was $41.4.

The mean target price surveyed among sell-side analysts for Flotek Industries (FTK) is $9. FTK is currently trading at ~$5.4, implying ~68% upside from its mean price. The mean target price surveyed among sell-side analysts for McDermott International (MDR) is ~$8.5. MDR is currently trading at ~$7.0, implying 21% potential returns from its average target price.

Learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.

Also, read about the top and bottom oilfield services companies in terms of Wall Street’s 3Q17 growth expectations in The Top and Bottom of Oilfield Service Stocks in 3Q17.

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