A number of firms have modified their ratings and price targets on shares of Basic Energy Services (NYSE: BAS) recently:

  • 10/10/2017 – Basic Energy Services is now covered by analysts at Deutsche Bank AG. They set a “hold” rating and a $22.00 price target on the stock.
  • 10/4/2017 – Basic Energy Services was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “sell” rating. According to Zacks, “Basic Energy Services provides a range of services to America’s oil and gas producers. Its operations span the heartland of domestic onshore production from Texas, Oklahoma, Louisiana and New Mexico to the Rocky Mountain states . Its services support the entire life cycle of a well – from drilling to production and finally – abandonment. They are committed to providing a safe and rewarding workplace, giving its customers the value they expect and doing our part to support a strong and viable oil and gas industry. “
  • 10/2/2017 – Basic Energy Services was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “buy” rating. They now have a $22.00 price target on the stock. According to Zacks, “Basic Energy Services provides a range of services to America’s oil and gas producers. Its operations span the heartland of domestic onshore production from Texas, Oklahoma, Louisiana and New Mexico to the Rocky Mountain states . Its services support the entire life cycle of a well – from drilling to production and finally – abandonment. They are committed to providing a safe and rewarding workplace, giving its customers the value they expect and doing our part to support a strong and viable oil and gas industry. “
  • 9/25/2017 – Basic Energy Services had its “neutral” rating reaffirmed by analysts at Credit Suisse Group. They now have a $21.00 price target on the stock, down previously from $30.00.
  • 9/8/2017 – Basic Energy Services had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $26.50 price target on the stock.
  • 9/5/2017 – Basic Energy Services had its “outperform” rating reaffirmed by analysts at Evercore ISI. They now have a $19.00 price target on the stock.
  • 8/17/2017 – Basic Energy Services was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.

Basic Energy Services, Inc. (BAS) traded down 2.423% during trading on Thursday, reaching $18.725. 20,324 shares of the company’s stock traded hands. Basic Energy Services, Inc. has a 12 month low of $14.03 and a 12 month high of $44.81. The company has a 50-day moving average of $17.77 and a 200 day moving average of $17.77. The stock’s market capitalization is $461.83 million.

In other news, Director Timothy H. Day bought 15,000 shares of the stock in a transaction on Monday, August 7th. The stock was acquired at an average price of $18.69 per share, with a total value of $280,350.00. Following the acquisition, the director now directly owns 20,200 shares in the company, valued at $377,538. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Cody Bissett sold 2,500 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $19.50, for a total value of $48,750.00. Following the completion of the transaction, the vice president now directly owns 3,401 shares of the company’s stock, valued at approximately $66,319.50. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 29,000 shares of company stock valued at $509,990 and have sold 13,957 shares valued at $246,688. Corporate insiders own 11.10% of the company’s stock.

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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