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Cowen and Company raised their target price on shares of Basic Energy Services (NYSE:BAS) from $20.00 to $23.00 in a research note issued on Monday, AnalystRatings.Net reports. The firm currently has a “market perform” rating on the stock. Cowen and Company’s target price indicates a potential downside of 11.71% from the company’s current price.

Basic Energy Services (NYSE:BAS) opened at 26.05 on Monday. Basic Energy Services has a 52-week low of $11.06 and a 52-week high of $29.61. The stock’s 50-day moving average is $26.58 and its 200-day moving average is $19.36. The company’s market cap is $1.066 billion.

Basic Energy Services (NYSE:BAS) last released its earnings data 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 $0.30 EPS for the current fiscal year.

In other Basic Energy Services news, Director Kenneth V. Huseman unloaded 70,000 shares of Basic Energy Services stock on the open market in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $25.72, for a total value of $1,800,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

A number of other firms have also recently commented on BAS. Analysts at Jefferies Group raised their price target on shares of Basic Energy Services from $18.00 to $20.00 in a research note on Monday, April 28th. They now have an “underperform” rating on the stock. Separately, analysts at Howard Weil raised their price target on shares of Basic Energy Services from $29.00 to $32.00 in a research note on Monday, April 28th. They now have a “hold” rating on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $28.67.

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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