Analysts Set Basic Energy Services, Inc. (BAS) PT at $32.17

Shares of Basic Energy Services, Inc. (NYSE:BAS) have been assigned a consensus rating of “Hold” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $32.17.

BAS has been the topic of a number of analyst reports. BidaskClub upgraded shares of Basic Energy Services from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of Basic Energy Services from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Wednesday, July 26th. Piper Jaffray Companies restated a “hold” rating and set a $26.50 target price on shares of Basic Energy Services in a research note on Friday, September 8th. Credit Suisse Group initiated coverage on shares of Basic Energy Services in a research note on Friday, July 21st. They set a “neutral” rating on the stock. Finally, Seaport Global Securities cut shares of Basic Energy Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 21st.

In other Basic Energy Services news, VP Brett J. Taylor sold 7,857 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $18.07, for a total value of $141,975.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Samuel E. Langford purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was bought at an average price of $14.20 per share, for a total transaction of $28,400.00. Following the purchase, the director now owns 6,300 shares in the company, valued at $89,460. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 29,000 shares of company stock worth $509,990 and sold 9,657 shares worth $169,540. 11.10% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its stake in Basic Energy Services by 7.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 12,149 shares of the oil and gas company’s stock worth $303,000 after purchasing an additional 853 shares in the last quarter. Deprince Race & Zollo Inc. raised its position in shares of Basic Energy Services by 20.0% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 26,400 shares of the oil and gas company’s stock valued at $657,000 after buying an additional 4,400 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Basic Energy Services during the 2nd quarter valued at about $112,000. JPMorgan Chase & Co. raised its position 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 valued at $1,173,000 after buying an additional 5,021 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of 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 in the last quarter.

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Shares of Basic Energy Services (BAS) traded up 1.27% during midday trading on Wednesday, hitting $15.17. The company had a trading volume of 872,154 shares. Basic Energy Services has a 1-year low of $14.80 and a 1-year high of $44.75. The stock has a 50 day moving average price of $15.34 and a 200 day moving average price of $25.64. The firm’s market capitalization is $374.15 million.

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.

Analyst Recommendations for Basic Energy Services (NYSE:BAS)

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