An issue of Basic Energy Services Inc. (NYSE:BAS) debt rose 3.1% as a percentage of its face value during trading on Friday. The high-yield issue of debt has a 7.75% coupon and will mature on February 15, 2019. The bonds in the issue are now trading at $43.94. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its share price.

Several analysts have recently issued reports on BAS shares. Zacks Investment Research cut Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. BMO Capital Markets reiterated a “hold” rating on shares of Basic Energy Services in a research note on Tuesday, August 9th. Macquarie upgraded Basic Energy Services from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 9th. Iberia Capital cut Basic Energy Services from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 25th. Finally, Wunderlich reduced their price objective on Basic Energy Services from $2.00 to $1.00 and set a “hold” rating on the stock in a research note on Monday, July 25th. Eighteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $2.68.

Shares of Basic Energy Services Inc. (NYSE:BAS) opened at 0.7026 on Friday. Basic Energy Services Inc. has a one year low of $0.37 and a one year high of $5.17. The stock’s market cap is $28.71 million. The firm has a 50-day moving average price of $0.59 and a 200-day moving average price of $1.57.

Basic Energy Services (NYSE:BAS) last posted its quarterly earnings data on Thursday, July 21st. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. Basic Energy Services had a negative net margin of 55.62% and a negative return on equity of 380.17%. Analysts anticipate that Basic Energy Services Inc. will post ($5.25) earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of BAS. Panagora Asset Management Inc. raised its stake in shares of Basic Energy Services by 50.4% in the first quarter. Panagora Asset Management Inc. now owns 1,408,963 shares of the company’s stock worth $3,889,000 after buying an additional 472,157 shares during the period. California Public Employees Retirement System raised its stake in shares of Basic Energy Services by 17.0% in the second quarter. California Public Employees Retirement System now owns 1,180,100 shares of the company’s stock worth $1,983,000 after buying an additional 171,400 shares during the period. State Street Corp raised its stake in shares of Basic Energy Services by 12.7% in the first quarter. State Street Corp now owns 844,439 shares of the company’s stock worth $2,331,000 after buying an additional 95,388 shares during the period. Bank of Montreal Can bought a new stake in shares of Basic Energy Services during the second quarter worth about $744,000. Finally, Bridgeway Capital Management Inc. raised its stake in shares of Basic Energy Services by 34.7% in the second quarter. Bridgeway Capital Management Inc. now owns 393,000 shares of the company’s stock worth $660,000 after buying an additional 101,200 shares during the period. Institutional investors and hedge funds own 55.62% of the company’s stock.

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.

5 Day Chart for NYSE:BAS

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