Basic Energy Services, Inc. (NYSE:BAS) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Basic Energy Services from a “buy” rating to a “hold” rating in a research note on Tuesday, March 28th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Basic Energy Services in a research note on Wednesday, March 29th. Nomura started coverage on shares of Basic Energy Services in a research note on Wednesday, April 19th. They issued a “buy” rating and a $51.00 price target on the stock. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $26.50 price target (down previously from $33.00) on shares of Basic Energy Services in a research note on Wednesday, July 12th. Finally, Seaport Global Securities cut shares of Basic Energy Services from a “buy” rating to a “neutral” rating in a report on Wednesday, June 21st. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $16.20.

Basic Energy Services (NYSE:BAS) traded down 2.10% during mid-day trading on Wednesday, hitting $27.45. 488,947 shares of the stock traded hands. Basic Energy Services has a 12 month low of $19.79 and a 12 month high of $44.81. The company’s 50 day moving average is $25.33 and its 200 day moving average is $32.10. The company’s market cap is $713.67 million.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Oconnor LLC acquired a new stake in shares of Basic Energy Services during the first quarter worth about $3,985,000. Trexquant Investment LP purchased a new stake in shares of Basic Energy Services during the first quarter worth $820,000. GeoSphere Capital Management purchased a new stake in shares of Basic Energy Services during the first quarter worth $4,671,000. Cipher Capital LP purchased a new stake in shares of Basic Energy Services during the first quarter worth $512,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Basic Energy Services during the first quarter worth $3,643,000. Hedge funds and other institutional investors own 97.39% of the company’s stock.

About Basic Energy Services

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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