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Basic Energy Services, Inc. (NYSE:BAS) Stock Rating Upgraded by BidaskClub
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Other research analysts also recently issued reports about the company. Instinet reissued a “buy” rating on shares of Basic Energy Services in a report on Wednesday, April 19th. Nomura started coverage on Basic Energy Services in a report on Wednesday, April 19th. They issued a “buy” rating and a $51.00 price target for the company. Seaport Global Securities raised Basic Energy Services from a “neutral” rating to a “buy” rating in a research note on Thursday, March 30th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Basic Energy Services in a research note on Wednesday, March 29th. Finally, Zacks Investment Research downgraded Basic Energy Services from a “buy” rating to a “hold” rating in a research note on Tuesday, March 28th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.20.
Shares of Basic Energy Services (NYSE BAS) opened at 28.04 on Wednesday. The firm’s 50-day moving average is $25.33 and its 200-day moving average is $32.10. Basic Energy Services has a one year low of $19.79 and a one year high of $44.81. The stock’s market capitalization is $729.01 million.
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Several hedge funds have recently modified their holdings of the company. Peregrine Capital Management LLC boosted its stake in shares of Basic Energy Services by 19.2% in the second quarter. Peregrine Capital Management LLC now owns 257,374 shares of the oil and gas company’s stock valued at $6,409,000 after buying an additional 41,409 shares during the last quarter. UBS Oconnor LLC purchased a new stake in shares of Basic Energy Services during the first quarter valued at approximately $3,985,000. Point72 Asset Management L.P. purchased a new stake in shares of Basic Energy Services during the first quarter valued at approximately $4,057,000. Point72 Europe London LLP boosted its stake in shares of Basic Energy Services by 56.2% in the first quarter. Point72 Europe London LLP now owns 188,408 shares of the oil and gas company’s stock valued at $6,285,000 after buying an additional 67,808 shares during the last quarter. Finally, RBF Capital LLC boosted its stake in shares of Basic Energy Services by 4.9% in the first quarter. RBF Capital LLC now owns 292,071 shares of the oil and gas company’s stock valued at $9,743,000 after buying an additional 13,600 shares during the last quarter. Hedge funds and other institutional investors own 97.39% of the company’s stock.
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.