Basic Energy Services, Inc. (BAS) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Basic Energy Services, Inc. (NYSE:BAS) have been given an average rating of “Hold” by the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $27.58.
A number of equities analysts recently commented on BAS shares. ValuEngine cut Basic Energy Services from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Seaport Global Securities upgraded Basic Energy Services from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Deutsche Bank assumed coverage on Basic Energy Services in a research note on Tuesday, October 10th. They issued a “hold” rating and a $22.00 price target for the company. Credit Suisse Group increased their price target on Basic Energy Services from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, November 6th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $26.50 price target on shares of Basic Energy Services in a research note on Friday, October 13th.
Shares of Basic Energy Services (BAS) traded down $0.81 during trading on Tuesday, reaching $24.91. The company had a trading volume of 378,400 shares, compared to its average volume of 316,622. Basic Energy Services has a one year low of $14.03 and a one year high of $44.81. The company has a market cap of $648.36 and a PE ratio of -3.82. The company has a current ratio of 1.59, a quick ratio of 1.42 and a debt-to-equity ratio of 0.76.
In other news, Director Silver Point Capital L.P. sold 875,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $22.75, for a total transaction of $19,906,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John Cody Bissett sold 5,500 shares of the firm’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $23.40, for a total value of $128,700.00. Following the transaction, the chief accounting officer now owns 3,749 shares of the company’s stock, valued at approximately $87,726.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,504,292 shares of company stock valued at $34,995,243. Company insiders own 0.69% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Legal & General Group Plc purchased a new position in shares of Basic Energy Services during the second quarter valued at about $112,000. Nationwide Fund Advisors purchased a new position in shares of Basic Energy Services during the second quarter valued at about $245,000. Russell Investments Group Ltd. grew its position in shares of Basic Energy Services by 7.6% during the second quarter. Russell Investments Group Ltd. now owns 12,149 shares of the oil and gas company’s stock valued at $303,000 after purchasing an additional 853 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Basic Energy Services by 107.1% during the second quarter. Parametric Portfolio Associates LLC now owns 13,350 shares of the oil and gas company’s stock valued at $332,000 after purchasing an additional 6,905 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Basic Energy Services during the third quarter valued at about $264,000.
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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