Basic Energy Services, Inc. (BAS) Receives Consensus Recommendation of “Hold” from Analysts

Basic Energy Services, Inc. (NYSE:BAS) has been given an average rating of “Hold” by the eleven analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $29.36.

BAS has been the topic of a number of recent research reports. Zacks Investment Research upgraded Basic Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Seaport Global Securities restated a “buy” rating and issued a $40.00 price objective on shares of Basic Energy Services in a research report on Thursday, January 18th. ValuEngine lowered Basic Energy Services from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Piper Jaffray Companies restated a “hold” rating and issued a $24.50 price objective on shares of Basic Energy Services in a research report on Friday, November 17th. Finally, Stephens started coverage on Basic Energy Services in a research report on Tuesday, January 9th. They issued an “equal weight” rating and a $26.00 price objective on the stock.

Shares of Basic Energy Services (NYSE:BAS) traded up $0.03 during midday trading on Friday, reaching $18.19. The company had a trading volume of 215,753 shares, compared to its average volume of 444,571. The stock has a market capitalization of $472.93 and a price-to-earnings ratio of -2.77. Basic Energy Services has a 52-week low of $14.03 and a 52-week high of $43.99. 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 278,000 shares of the company’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Monroe Patterson sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $23.18, for a total value of $34,770.00. Following the transaction, the insider now directly owns 41,273 shares of the company’s stock, valued at $956,708.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,010,885 shares of company stock worth $24,322,486. Insiders own 11.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Legal & General Group Plc acquired a new position in shares of Basic Energy Services during the 2nd quarter worth approximately $112,000. JPMorgan Chase & Co. raised its stake in shares of 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 worth $1,173,000 after buying an additional 5,021 shares during the period. AXA raised its stake in shares of Basic Energy Services by 24.1% during the 4th quarter. AXA now owns 26,800 shares of the oil and gas company’s stock worth $629,000 after buying an additional 5,200 shares during the period. Peregrine Capital Management LLC raised its stake in shares of 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 worth $5,071,000 after buying an additional 5,349 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Basic Energy Services by 56.1% during the 4th quarter. Alliancebernstein L.P. now owns 19,050 shares of the oil and gas company’s stock worth $447,000 after buying an additional 6,850 shares during the period.

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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.

Analyst Recommendations for Basic Energy Services (NYSE:BAS)

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