Basic Energy Services Price Target Raised to $32.00 at Howard Weil (BAS)
Investment analysts at Howard Weil lifted their target price on shares of Basic Energy Services (NYSE:BAS) from $29.00 to $32.00 in a note issued to investors on Monday, Analyst Ratings News reports. The firm currently has a “hold” rating on the stock. Howard Weil’s target price suggests a potential upside of 22.94% from the company’s current price.
Shares of Basic Energy Services (NYSE:BAS) traded up 3.66% on Monday, hitting $26.984. 322,181 shares of the company’s stock traded hands. Basic Energy Services has a one year low of $11.06 and a one year high of $29.61. The stock has a 50-day moving average of $26.24 and a 200-day moving average of $18.87. The company’s market cap is $1.083 billion.
Basic Energy Services (NYSE:BAS) last posted its quarterly earnings results on Thursday, April 24th. The company reported ($0.05) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.09) by $0.04. The company had revenue of $336.76 million for the quarter, compared to the consensus estimate of $328.04 million. During the same quarter last year, the company posted ($0.21) earnings per share. Basic Energy Services’s revenue was up 10.6% compared to the same quarter last year. Analysts expect that Basic Energy Services will post $0.22 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Wunderlich upgraded shares of Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Tuesday, April 15th. They now have a $27.00 price target on the stock, up previously from $19.00. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Basic Energy Services in a research note on Monday, April 14th. They now have a $32.00 price target on the stock. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Basic Energy Services in a research note on Friday, April 11th. They now have a $27.00 price target on the stock, up previously from $23.00. One equities research 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. Basic Energy Services presently has a consensus rating of “Hold” and a consensus target price of $26.88.
In other Basic Energy Services news, CAO John Cody Bissett sold 1,000 shares of Basic Energy Services stock on the open market in a transaction dated Monday, April 14th. The stock was sold at an average price of $27.62, for a total value of $27,620.00. Following the transaction, the chief accounting officer now directly owns 51,025 shares of the company’s stock, valued at approximately $1,409,311. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.