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.
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