Basic Energy Services, Inc. (BAS) Given Consensus Rating of “Hold” by Brokerages

Shares of Basic Energy Services, Inc. (NYSE:BAS) have earned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $27.90.

Several brokerages have recently issued reports on BAS. Seaport Global Securities raised Basic Energy Services from a “neutral” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research raised Basic Energy Services from a “sell” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Monday, October 2nd. Deutsche Bank began coverage on Basic Energy Services in a research report on Tuesday, October 10th. They issued a “hold” rating and a $22.00 price target on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $19.00 price target on shares of Basic Energy Services in a research report on Tuesday, September 5th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $24.50 price target on shares of Basic Energy Services in a research report on Friday, November 17th.

Shares of Basic Energy Services (NYSE BAS) traded up $0.49 during trading hours on Friday, hitting $24.46. The stock had a trading volume of 518,300 shares, compared to its average volume of 561,334. 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 quick ratio of 1.42 and a current ratio of 1.59.

In related news, insider Thomas Monroe Patterson sold 1,500 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $18.83, for a total value of $28,245.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James F. Newman sold 5,000 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $23.98, for a total transaction of $119,900.00. Following the completion of the sale, the senior vice president now owns 13,308 shares of the company’s stock, valued at approximately $319,125.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,076,166 shares of company stock valued at $24,527,594. 11.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Key Group Holdings Cayman LTD. bought a new position in Basic Energy Services during the second quarter worth about $40,639,000. Vanguard Group Inc. lifted its stake in Basic Energy Services by 74.5% during the second quarter. Vanguard Group Inc. now owns 1,088,728 shares of the oil and gas company’s stock worth $27,109,000 after purchasing an additional 464,691 shares during the period. Cramer Rosenthal Mcglynn LLC lifted its stake in Basic Energy Services by 22.7% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,022,597 shares of the oil and gas company’s stock worth $25,463,000 after purchasing an additional 189,017 shares during the period. Janus Henderson Group PLC bought a new position in Basic Energy Services during the second quarter worth about $25,018,000. Finally, Royce & Associates LP lifted its stake in Basic Energy Services by 31.0% during the third quarter. Royce & Associates LP now owns 869,015 shares of the oil and gas company’s stock worth $16,772,000 after purchasing an additional 205,505 shares during the period.

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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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