Basic Energy Services Given Average Recommendation of “Hold” by Analysts (NYSE:BAS)
Basic Energy Services (NYSE:BAS) has been given an average rating of “Hold” by the sixteen analysts that are presently covering the stock, Stock Ratings Network.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $28.77.
In other Basic Energy Services news, CFO Alan Krenek unloaded 6,000 shares of the company’s stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $24.08, for a total value of $144,480.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on BAS. Analysts at Macquarie reiterated a “neutral” rating on shares of Basic Energy Services in a research note on Monday, July 28th. They now have a $24.00 price target on the stock, down previously from $25.00. Separately, analysts at Global Hunter Securities upgraded shares of Basic Energy Services from a “neutral” rating to an “accumulate” rating in a research note on Monday, July 28th. They now have a $30.00 price target on the stock, down previously from $31.00. Finally, analysts at Raymond James upgraded shares of Basic Energy Services from a “market perform” rating to an “outperform” rating in a research note on Monday, July 28th. They now have a $32.00 price target on the stock.
Shares of Basic Energy Services (NYSE:BAS) opened at 24.29 on Tuesday. Basic Energy Services has a 52 week low of $11.06 and a 52 week high of $29.84. The stock’s 50-day moving average is $26.85 and its 200-day moving average is $25.06. The company’s market cap is $994.9 million. Basic Energy Services also was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 4,712,087 shares, a growth of 53.9% from the July 15th total of 3,061,881 shares. Currently, 13.2% of the shares of the stock are short sold. Based on an average trading volume of 1,438,680 shares, the short-interest ratio is currently 3.3 days.
Basic Energy Services (NYSE:BAS) last released its earnings data on Thursday, July 24th. The company reported $0.13 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.09 by $0.04. Analysts expect that Basic Energy Services will post $0.54 EPS for the current fiscal year.
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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