BAS Investment Analysis Report & Stock Research, Basic Energy Services, Inc.

Basic Energy Services, Incorporated (BAS)

BAS Stock Report

2-Year Price History

View Larger BAS Chart
NYSE:BAS
$8.88
(2/9 3:45PM)
+4.2%
Open$8.73 Mkt Cap$346.7 Million
High$9.11 52Wk High$13.27
Low$8.57 52Wk Low$5.30
Volume197,304 Avg Vol 10D357,200

Ockham's Rating/Recommendation Summary

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BAS Revenue

For a long time, value investors have used the current share price relative to sales per share levels as an important valuation tool. We utilize a historical weighted average methodology that treats recent years more importantly in the calculation. When looking at BAS through this framework, we can see that our weighted average historical high and low Price to Sales per share ratios over the last 6 years are 1.32x and 0.60x respectively.

Utilizing this range we can see that BAS’s current Price to Sales per share ratio of 0.54x is significantly below its average levels historically. In fact, with a current price of $8.57, BAS is a full 44% below its average Price to Sales ratio at comparable sales levels. This is a rare occurrence and, when taken in context of the other areas of our analysis, can be a strong positive for our outlook for BAS.

BAS Cash Earnings

Price to Cash Earnings analysis is inappropriate for this company due to anticipated negative cash flows for this year. A negative cash flow presents many complications when comparing the company's current value to historically normal valuations. Clearly, when a company fails to earn a profit, it should be a concern for investors. As such, we have taken a negative view on BAS from a cash perspective. We should point out that this metric is a significant element in Ockham’s methodology for analyzing the outlook for any company. Many young companies have come through difficult times like this before; these companies have an opportunity to grow revenue appropriately to bring them around to profitablity. However, for mature company's with a history of positive cash flow this can be much more distressing. Therefore, for BAS, our overall valutaion is now more dependent on the Price to Sales analysis, and investors should be cautious with a company with very limited, if any, positive cash earnings.

BAS Dividends

A positive Ockham rating does not require a company to pay out an inviting dividend or a dividend at all. However, we believe dividends provide a useful measure of a company's inherent expectations. Although they may currently pay a dividend, our data source has no historical record of it for BAS. Since we cannot apply our historical trend analysis to dividends for BAS we have a neutral score for the dividend portion of our analysis.

Peer Comparison

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Basic Energy Services, Inc. Industry Grouping

(2/8/2010)
Company Ticker Market Cap (Ml) Latest
Price
Price/Cash Earnings Price/Sales 5-Yr. Rev.
Growth Rate
5-Yr.
Avg. ROE.
Current 10-Yr. Range* Current 10-Yr. Range*
Peer Company Averages (not including BAS) 8.56 1.63 » 24.84 0.34 0.09 » 1.52 37.08% 18.23%
*10 year range does not include current year values
Calumet Specialty Products Partners, LP CLMT $367.0 Million $19.15 4.28 1.76 » 17.70 0.33 0.07 » 1.09 n/a 21.98%
Delek US Holdings, Inc. DK $364.6 Million $6.79 4.88 2.80 » 16.26 0.17 0.04 » 0.40 n/a 23.00%
Basic Energy Services, Inc. BAS $346.7 Million $8.52 -1.00 1.60 » 9.28 0.54 0.30 » 2.01 n/a 16.44%
Superior Well Services, Inc. SWSI $341.3 Million $14.34 27.78 2.36 » 32.20 0.72 0.21 » 3.91 n/a 12.93%
Crosstex Energy, Inc. XTXI $327.8 Million $7.05 1.89 0.20 » 17.45 0.18 0.02 » 0.49 37.08% 15.48%
Eagle Rock Energy Partners LP EROC $321.7 Million $5.82 3.95 1.02 » 40.59 0.29 0.12 » 1.71 n/a 17.78%
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Mad Money

Basic Energy Services, Incorporated (BAS) Discussed on CNBC's Mad Money

Basic Energy Services, Incorporated is in the news. Find out how this impacts BAS trading on Ockham Research.

>> viper. Rob. >> caller: triple boo-yah. I'll be like that annie duke. Oh, they loved her. Very classy woman. >> caller: first-time caller. BASIC ENERGY SERVICES. What's your thoughts? >> i've got schlumberger coming i've got transocean coming down. I am not going of it to resort to basic. You need to step up in quality. The oih is going down -- it's

“… not going of it to resort to basic. You need to step up in quality. The oih is going down -- it's …”

Happy Hour

Basic Energy Services, Incorporated (BAS) Discussed on Fox Business's Happy Hour

Basic Energy Services, Incorporated is in the news. Find out how this impacts BAS trading on Ockham Research.

Itself whether to tax gasoline more or not. I mean, right now the economy needs to be stimulated and cheap bas -- gasoline and cheap fuels today. Natural gas awfully cheap that's the stem -- in that ought to be continued for some time. But you know, crude oil will

“… oil will …”

View All Basic Energy Services, Inc. Stock News

Key Fundamentals

BAS - Basic Energy Services, Incorporated Fundamentals
Price (2/9 3:45PM) $8.88
Volume (2/9 3:45PM) 197,304
Last Close Price $8.52
10 Day Average Volume 357,200
13 Week Price Range $6.50 - $11.34
52 Week Price Range $5.30 - $13.27
LTM Revenue $644.5 Million
 
Shares Outstanding (12/2008) 40.7 Million
Market Capitalization $346.7 Million
Shares Held By Institutions 35.6 Million
Institutional Holders 124
% Shares Held By Institutions 87.40%
Earnings Per Share (EPS) $1.64
P/E Ratio n/a
Book Value Per Share $8.92
 
Gross Margin 31.20%
Annual Dividend 0.00
Dividend Yield 0.00%
Beta 2.11
Fiscal Year Ends December

About Basic Energy Services, Inc.

Basic Energy Services, Incorporated is considered to operate in the Basic Materials sector. They specifically operate in the Oil & Gas Equipment/Services business segment contained within the Energy industry.

The Company provides a range of well site services to oil and gas drilling and producing companies, including well servicing, fluid services and well site construction services, completion and remedial services and contract drilling.