Basic Energy Services, Inc. (NYSE:BAS) has been assigned a consensus recommendation of “Hold” from the fourteen research firms that are covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $26.17.

BAS has been the subject of a number of research analyst reports. Credit Suisse Group initiated coverage on shares of Basic Energy Services in a research report on Friday. They set a “neutral” rating for the company. Seaport Global Securities raised shares of Basic Energy Services from a “neutral” rating to a “buy” rating in a research report on Thursday, March 30th. Zacks Investment Research cut shares of Basic Energy Services from a “buy” rating to a “hold” rating in a research report on Tuesday, March 28th. Instinet reaffirmed a “buy” rating on shares of Basic Energy Services in a research report on Wednesday, April 19th. Finally, Nomura assumed coverage on shares of Basic Energy Services in a research report on Wednesday, April 19th. They set a “buy” rating and a $51.00 price objective for the company.

A number of hedge funds and other institutional investors have recently modified their holdings of BAS. DUPONT CAPITAL MANAGEMENT Corp boosted its position in shares of Basic Energy Services by 2.2% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 33,111 shares of the oil and gas company’s stock worth $1,105,000 after buying an additional 706 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Basic Energy Services by 7.6% in the second quarter. Russell Investments Group Ltd. now owns 12,149 shares of the oil and gas company’s stock worth $303,000 after buying an additional 853 shares during the period. Wells Fargo & Company MN boosted its position in shares of 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 worth $239,000 after buying an additional 5,702 shares during the period. Parametric Portfolio Associates LLC bought a new position in shares of Basic Energy Services during the first quarter worth approximately $215,000. Finally, Bank of America Corp DE boosted its position in shares of Basic Energy Services by 179.4% in the first quarter. Bank of America Corp DE now owns 13,379 shares of the oil and gas company’s stock worth $446,000 after buying an additional 8,591 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

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Basic Energy Services (BAS) traded up 5.65% during trading on Tuesday, reaching $27.29. 235,090 shares of the company traded hands. The company’s 50-day moving average is $25.26 and its 200 day moving average is $31.93. Basic Energy Services has a 12 month low of $19.79 and a 12 month high of $44.81. The company’s market cap is $709.51 million.

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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