Basic Energy Services, Inc. (NYSE:BAS) has received a consensus recommendation of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $17.83.

A number of research analysts have weighed in on BAS shares. Instinet reaffirmed a “buy” rating on shares of Basic Energy Services in a report on Wednesday, April 19th. Seaport Global Securities raised Basic Energy Services from a “neutral” rating to a “buy” rating in a report on Thursday, March 30th. Zacks Investment Research lowered Basic Energy Services from a “buy” rating to a “hold” rating in a report on Tuesday, March 28th. Nomura started coverage on Basic Energy Services in a report on Wednesday, April 19th. They set a “buy” rating and a $51.00 target price for the company. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Basic Energy Services in a report on Wednesday, March 29th.

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In other Basic Energy Services news, major shareholder Ascribe Capital Llc sold 11,900 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $35.68, for a total value of $424,592.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Pioneer Investment Management Inc. raised its stake in shares of Basic Energy Services by 106.1% in the first quarter. Pioneer Investment Management Inc. now owns 219,129 shares of the oil and gas company’s stock valued at $7,310,000 after buying an additional 112,783 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new stake in shares of Basic Energy Services during the first quarter valued at about $215,000. Parkwood LLC raised its stake in shares of Basic Energy Services by 2,048.1% in the first quarter. Parkwood LLC now owns 22,040 shares of the oil and gas company’s stock valued at $735,000 after buying an additional 21,014 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Basic Energy Services during the first quarter valued at about $1,705,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Basic Energy Services during the first quarter valued at about $931,000. 97.41% of the stock is owned by institutional investors and hedge funds.

Shares of Basic Energy Services (NYSE BAS) opened at 24.85 on Friday. The firm’s 50-day moving average is $25.91 and its 200-day moving average is $32.78. Basic Energy Services has a 52 week low of $19.79 and a 52 week high of $44.81. The firm’s market capitalization is $646.08 million.

Basic Energy Services Company Profile

Basic Energy Services, Inc provides a range of well site services in the United States to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling. The Company operates through the segment, which include Completion and Remedial Services, Fluid Services, Well Servicing and Contract Drilling.

Analyst Recommendations for Basic Energy Services (NYSE:BAS)

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