Barclays Reiterates “Equal Weight” Rating for Basic Energy Services (BAS)
Basic Energy Services (NYSE:BAS)‘s stock had its “equal weight” rating restated by equities researchers at Barclays in a research report issued on Friday, American Banking News reports. They currently have a $27.00 target price on the stock, up from their previous target price of $23.00. Barclays’ price objective points to a potential downside of 4.59% from the company’s current price.
Basic Energy Services (NYSE:BAS) traded down 1.31% on Friday, hitting $27.93. The stock had a trading volume of 465,025 shares. Basic Energy Services has a 52-week low of $11.06 and a 52-week high of $28.83. The stock’s 50-day moving average is $25.26 and its 200-day moving average is $18.1. The company’s market cap is $1.121 billion.
Basic Energy Services (NYSE:BAS) last released its earnings data on Wednesday, February 19th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.08. Analysts expect that Basic Energy Services will post $0.20 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on BAS. Analysts at Imperial Capital reiterated an “outperform” rating on shares of Basic Energy Services in a research note on Wednesday, April 9th. They now have a $31.00 price target on the stock, up previously from $25.50. Separately, analysts at Jefferies Group downgraded shares of Basic Energy Services from a “hold” rating to an “underperform” rating in a research note on Tuesday, February 25th. They now have a $16.00 price target on the stock, up previously from $13.50. Finally, analysts at Wunderlich raised their price target on shares of Basic Energy Services from $10.00 to $19.00 in a research note on Monday, February 24th. They now have a “sell” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $25.75.
Basic Energy Services, Inc, provides a range of well site services to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling.
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