NICE THIS WEEK>BASIC ENERGY

1. Why Bonanza Creek Energy, Basic Energy
Services, and Matrix Service Company All
Jumped This Week

2. Volatility continued to be the main
theme of the market this week as it
made several triple-digit moves.
Meanwhile, crude oil kept bouncing
around, hitting a high near $50 a
barrel on Monday, only to drop to
less than $44 a barrel a few days
later.
This led to a lot of volatility among
energy stocks, with dozens surging
or plunging by double digits by the
end of the week.
Photo credit: TaxCredits.net

3. What:
Oil producer Bonanza Creek Energy’s (NYSE: BCEI) stock jumped more
than 13% this week.

4. So What:
 Key driver: Wunderlich
reiterated its Buy rating
on the company and $29
price target
 It pointed out that the
company has a negative
implied land value vs. its
peers

5. Now What:
 Wunderlich also said that
the debt fears are
overblown as the
company has long
duration debt that is
covenant light
 Key takeaway: Investors
seem to agree that this
stock is oversold

6. What:
Energy engineering company Matrix Service Company (NASDAQ: MTRX)
leapt more than 14% this week.

7. So What:
 Key driver: Matrix Service
Company reported its fiscal
fourth-quarter results on
Monday
 EPS of $0.40 per share,
which was $0.13 per share
higher than estimates
 Revenue of $370.5
million, which was up
7.6% over last year

8. Now What:
 Company also said it was
confident in its fiscal 2016
guidance and that it has a
record backlog, as well as
several proposals for
additional projects
 Key takeaway: Investors
were pleased with the
results and optimistic
outlook

9. What:
Oil-field service company Basic Energy Services (NYSE: BAS) rocketed
more than 17% this week.

10. So What:
 Key driver: Wunderlich
upgraded the company
from a Sell to a Hold with
a $4 price target
 The upgrade noted that
Basic is doing a good job
managing through a very
tough downturn

11. Now What:
 It also noted that Basic has
$200 million of liquidity and
recently made a good deal
with its banks
 Further, despite the downturn,
the company should still
generate cash flow
 Key takeaway: Investors agree
that Basic Energy Services
looks like it will survive the
downturn

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