Basic Energy Services (BAS) Downgraded by ValuEngine to “Strong Sell”

Basic Energy Services (NYSE:BAS) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Thursday.

Several other research firms have also issued reports on BAS. Zacks Investment Research raised shares of Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Seaport Global Securities reiterated a “buy” rating and issued a $40.00 target price on shares of Basic Energy Services in a report on Thursday, January 18th. Piper Jaffray Companies reiterated a “hold” rating and issued a $26.50 target price on shares of Basic Energy Services in a report on Friday, October 13th. Stephens started coverage on shares of Basic Energy Services in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $26.00 target price on the stock. Finally, Credit Suisse Group lifted their target price on shares of Basic Energy Services from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $28.44.

Shares of Basic Energy Services (NYSE BAS) opened at $17.44 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.42 and a current ratio of 1.59. Basic Energy Services has a 52 week low of $14.03 and a 52 week high of $44.81.

In other news, insider Thomas Monroe Patterson sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $19.28, for a total transaction of $28,920.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Silver Point Capital L.P. sold 146,000 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $23.10, for a total transaction of $3,372,600.00. The disclosure for this sale can be found here. Insiders sold a total of 1,012,085 shares of company stock worth $24,346,321 in the last quarter. Insiders own 11.10% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Legal & General Group Plc bought a new position in shares of Basic Energy Services during the 2nd quarter worth about $112,000. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 5,021 shares during the period. Peregrine Capital Management LLC increased its holdings 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 purchasing an additional 5,349 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of Basic Energy Services by 107.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,350 shares of the oil and gas company’s stock worth $332,000 after purchasing an additional 6,905 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Basic Energy Services by 39.4% during the 3rd quarter. Wells Fargo & Company MN now owns 28,400 shares of the oil and gas company’s stock worth $549,000 after purchasing an additional 8,028 shares during the period.

ILLEGAL ACTIVITY NOTICE: This report was originally published by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.com-unik.info/2018/02/10/basic-energy-services-bas-downgraded-by-valuengine-to-strong-sell.html.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Basic Energy Services (NYSE:BAS)

Receive News & Ratings for Basic Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Basic Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit