Basic Energy Services, Inc. (BAS) Given Average Recommendation of “Hold” by Brokerages
Basic Energy Services, Inc. (NYSE:BAS) has earned an average recommendation of “Hold” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $27.90.
Several research analysts recently commented on BAS shares. Piper Jaffray Companies reissued a “hold” rating and set a $26.50 target price on shares of Basic Energy Services in a research note on Friday, September 8th. Zacks Investment Research cut Basic Energy Services from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub cut Basic Energy Services from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Deutsche Bank AG started coverage on Basic Energy Services in a research note on Tuesday, October 10th. They set a “hold” rating and a $22.00 target price for the company. Finally, Credit Suisse Group reissued a “neutral” rating and set a $21.00 target price (down from $30.00) on shares of Basic Energy Services in a research note on Monday, September 25th.
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In other news, Director Timothy H. Day purchased 12,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $16.77 per share, for a total transaction of $201,240.00. Following the acquisition, the director now directly owns 32,200 shares in the company, valued at approximately $539,994. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy H. Day purchased 15,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average price of $18.69 per share, for a total transaction of $280,350.00. Following the acquisition, the director now owns 20,200 shares in the company, valued at $377,538. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 29,000 shares of company stock worth $509,990 and sold 15,457 shares worth $274,933. Corporate insiders own 11.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BAS. Legal & General Group Plc acquired a new stake in shares of Basic Energy Services in the 2nd quarter worth approximately $112,000. Parametric Portfolio Associates LLC acquired a new stake in Basic Energy Services during the 1st quarter valued at $215,000. Wells Fargo & Company MN grew its holdings in Basic Energy Services by 393.2% during the 1st 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 during the last quarter. Nationwide Fund Advisors acquired a new stake in Basic Energy Services during the 2nd quarter valued at $245,000. Finally, Russell Investments Group Ltd. grew its holdings in Basic Energy Services by 7.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 12,149 shares of the oil and gas company’s stock valued at $303,000 after buying an additional 853 shares during the last quarter.
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.
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