Basic Energy Services (NYSE:BAS) was upgraded by equities researchers at Seaport Global Securities from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday.
Several other equities research analysts have also recently weighed in on the company. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $26.50 price target on shares of Basic Energy Services in a research note on Friday, September 8th. Credit Suisse Group upped their price target 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. ValuEngine cut Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $19.00 price target on shares of Basic Energy Services in a research note on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $26.92.
Shares of Basic Energy Services (NYSE:BAS) opened at $24.46 on Wednesday. Basic Energy Services has a 12 month low of $14.03 and a 12 month high of $44.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 1.42.
Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc bought a new position in shares of Basic Energy Services during the second quarter valued at $112,000. Nationwide Fund Advisors bought a new position in shares of Basic Energy Services during the second quarter valued at $245,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Basic Energy Services during the third quarter valued at $264,000. Russell Investments Group Ltd. lifted its holdings in shares of Basic Energy Services by 7.6% during the second quarter. Russell Investments Group Ltd. now owns 12,149 shares of the oil and gas company’s stock valued at $303,000 after purchasing an additional 853 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Basic Energy Services by 107.1% during the second quarter. Parametric Portfolio Associates LLC now owns 13,350 shares of the oil and gas company’s stock valued at $332,000 after purchasing an additional 6,905 shares in the last quarter.
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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.
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