Basic Energy Services, Inc. (BAS) Given Average Recommendation of “Hold” by Analysts
Basic Energy Services, Inc. (NYSE:BAS) has been assigned a consensus recommendation of “Hold” from the ten analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $38.75.
Several brokerages recently issued reports on BAS. Seaport Global Securities reissued a “neutral” rating on shares of Basic Energy Services in a research note on Friday, July 28th. Credit Suisse Group began coverage on shares of Basic Energy Services in a research note on Friday, July 21st. They set a “neutral” rating on the stock. BidaskClub lowered shares of Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Piper Jaffray Companies reissued a “neutral” rating and set a $26.50 target price (down from $33.00) on shares of Basic Energy Services in a research note on Wednesday, July 12th. Finally, Zacks Investment Research raised shares of Basic Energy Services from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Wednesday, July 26th.
Basic Energy Services (NYSE:BAS) traded up 4.86% during midday trading on Friday, reaching $15.52. 419,794 shares of the company traded hands. Basic Energy Services has a 12-month low of $14.75 and a 12-month high of $44.81. The stock’s market capitalization is $382.79 million. The company has a 50 day moving average of $23.05 and a 200-day moving average of $29.52.
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In other Basic Energy Services news, VP Brett J. Taylor sold 7,857 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $18.07, for a total value of $141,975.99. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy H. Day acquired 15,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $18.69 per share, for a total transaction of $280,350.00. Following the completion of the purchase, the director now directly owns 20,200 shares of the company’s stock, valued at approximately $377,538. The disclosure for this purchase can be found here. 11.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thomson Horstmann & Bryant Inc. acquired a new position in Basic Energy Services during the first quarter worth $567,000. Russell Investments Group Ltd. raised its position in Basic Energy Services by 64.8% in the first quarter. Russell Investments Group Ltd. now owns 11,296 shares of the oil and gas company’s stock worth $377,000 after buying an additional 4,440 shares during the period. DUPONT CAPITAL MANAGEMENT Corp raised its position in 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. 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 worth $239,000 after buying an additional 5,702 shares during the period. Finally, Jennison Associates LLC acquired a new position in Basic Energy Services during the first quarter worth $14,423,000. 96.06% of the stock is currently owned by hedge funds and other institutional investors.
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.
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