Equities researchers at Credit Suisse Group AG began coverage on shares of Basic Energy Services, Inc. (NYSE:BAS) in a note issued to investors on Friday, MarketBeat.com reports. The firm set a “neutral” rating on the oil and gas company’s stock.

Several other analysts have also weighed in on BAS. BidaskClub upgraded shares of Basic Energy Services from a “hold” rating to a “buy” rating in a research note on Wednesday. Piper Jaffray Companies reiterated a “neutral” rating and set a $26.50 target price (down previously from $33.00) on shares of Basic Energy Services in a research note on Wednesday, July 12th. Seaport Global Securities lowered shares of Basic Energy Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 21st. Instinet reiterated a “buy” rating on shares of Basic Energy Services in a research note on Wednesday, April 19th. Finally, Nomura assumed coverage on shares of Basic Energy Services in a research note on Wednesday, April 19th. They set a “buy” rating and a $51.00 target price for the company. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $16.20.

Basic Energy Services (NYSE:BAS) traded down 2.10% on Friday, hitting $27.45. 488,947 shares of the company were exchanged. Basic Energy Services has a 52-week low of $19.79 and a 52-week high of $44.81. The stock’s market cap is $713.67 million. The firm has a 50 day moving average of $25.33 and a 200-day moving average of $32.10.

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Several institutional investors have recently added to or reduced their stakes in BAS. Parametric Portfolio Associates LLC purchased a new position in Basic Energy Services during the first quarter valued at approximately $215,000. Wells Fargo & Company MN raised its position in Basic Energy Services by 393.2% in the first quarter. Wells Fargo & Company MN now owns 7,152 shares of the oil and gas company’s stock valued at $239,000 after buying an additional 5,702 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Basic Energy Services during the fourth quarter valued at approximately $243,000. Dynamic Technology Lab Private Ltd purchased a new position in Basic Energy Services during the first quarter valued at approximately $323,000. Finally, Hudson Bay Capital Management LP purchased a new position in Basic Energy Services during the fourth quarter valued at approximately $354,000. Institutional investors and hedge funds own 97.39% of the company’s stock.

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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