An issue of Basic Energy Services Inc. (NYSE:BAS) debt rose 3.1% as a percentage of its face value during trading on Tuesday. The debt issue has a 7.75% coupon and is set to mature on February 15, 2019. The debt is now trading at $43.94. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.

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

Basic Energy Services Inc. (NYSE:BAS) opened at 0.7238 on Wednesday. The company’s market capitalization is $29.58 million. Basic Energy Services Inc. has a 52 week low of $0.37 and a 52 week high of $4.57. The company’s 50 day moving average price is $0.59 and its 200-day moving average price is $1.53.

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

A number of large investors have recently added to or reduced their stakes in BAS. Panagora Asset Management Inc. boosted its stake in 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 boosted its stake in 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 boosted its stake in 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 acquired a new stake in Basic Energy Services during the second quarter worth approximately $744,000. Finally, Bridgeway Capital Management Inc. boosted its stake in 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 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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