Basic Energy Services Earns “A” Credit Rating (BAS)
Basic Energy Services (NYSE:BAS) has earned an “A” credit rating from analysts at Morningstar. The firm’s “A” rating indicates that the company is a low default risk. They also issued a neutral credit outlook for the company and gave their stock a three star rating.
Other equities research analysts have also recently issued reports about the stock. 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $28.77.
Shares of Basic Energy Services (NYSE:BAS) opened at 23.31 on Wednesday. Basic Energy Services has a 52 week low of $11.86 and a 52 week high of $29.84. The stock’s 50-day moving average is $25.1 and its 200-day moving average is $25.81. The company’s market cap is $954.8 million.
Basic Energy Services (NYSE:BAS) last announced its earnings results on Thursday, July 24th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the 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.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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.