Basic Energy Services (BAS) Rating Lowered to Strong Sell at ValuEngine

Basic Energy Services (NYSE:BAS) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Thursday.

A number of other equities analysts also recently issued reports on BAS. 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, October 13th. Credit Suisse Group increased their target price 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. Zacks Investment Research raised Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Seaport Global Securities raised Basic Energy Services from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Finally, Stephens initiated coverage on Basic Energy Services in a research note on Tuesday, January 9th. They set an “equal weight” rating and a $26.00 target price for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $28.44.

Shares of Basic Energy Services (NYSE BAS) traded up $0.13 during mid-day trading on Thursday, hitting $17.44. The stock had a trading volume of 700,151 shares, compared to its average volume of 442,250. Basic Energy Services has a fifty-two week low of $14.03 and a fifty-two week high of $44.81. The company has a quick ratio of 1.42, a current ratio of 1.59 and a debt-to-equity ratio of 0.76.

In other Basic Energy Services news, Director Silver Point Capital L.P. sold 278,000 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $24.01, for a total transaction of $6,674,780.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP William Timothy Dame sold 2,500 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $23.58, for a total value of $58,950.00. Following the sale, the vice president now owns 3,859 shares in the company, valued at approximately $90,995.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,012,085 shares of company stock worth $24,346,321. Insiders own 11.10% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Legal & General Group Plc acquired a new stake in Basic Energy Services during the 2nd quarter valued at $112,000. JPMorgan Chase & Co. grew its holdings in Basic Energy Services by 11.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 47,118 shares of the oil and gas company’s stock valued at $1,173,000 after buying an additional 5,021 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in Basic Energy Services by 2.1% during the 3rd quarter. Peregrine Capital Management LLC now owns 262,723 shares of the oil and gas company’s stock valued at $5,071,000 after buying an additional 5,349 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in Basic Energy Services by 107.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,350 shares of the oil and gas company’s stock valued at $332,000 after buying an additional 6,905 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Basic Energy Services by 39.4% during the 3rd quarter. Wells Fargo & Company MN now owns 28,400 shares of the oil and gas company’s stock valued at $549,000 after buying an additional 8,028 shares during the last quarter.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Basic Energy Services (NYSE:BAS)

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