Zacks: Brokerages Set $0.72 Target Price for Basic Energy Services (NASDAQ:BASX)

Basic Energy Services (NASDAQ:BASX) has been assigned an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation.

Brokers have set a one year consensus price objective of $0.72 for the company and are predicting that the company will post ($1.39) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Basic Energy Services an industry rank of 221 out of 255 based on the ratings given to related companies.

Separately, Zacks Investment Research raised shares of Basic Energy Services from a “hold” rating to a “buy” rating and set a $0.25 price target on the stock in a research note on Friday, January 3rd.

Shares of Basic Energy Services stock traded down $0.01 during mid-day trading on Tuesday, hitting $0.29. 109,819 shares of the stock were exchanged, compared to its average volume of 178,243. Basic Energy Services has a twelve month low of $0.15 and a twelve month high of $5.71.

Basic Energy Services (NASDAQ:BASX) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($0.27). The business had revenue of $178.37 million for the quarter, compared to the consensus estimate of $185.70 million.

About Basic Energy Services

Basic Energy Services, Inc provides well site services to oil and natural gas drilling and producing companies in the United States. The company operates through Completion and Remedial Services, Well Servicing, Water Logistics, and Contract Drilling segments. The Completion and Remedial Services segment offers pumping services, such as cementing, acidizing, fracturing, nitrogen, and pressure testing; rental and fishing tools; coiled tubing; snubbing services; thru-tubing; underbalanced drilling in low pressure and fluid sensitive reservoirs; and cased-hole wireline services.

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