An issue of Basic Energy Services Inc. (NYSE:BAS) bonds rose 5.1% against their face value during trading on Friday. The debt issue has a 7.75% coupon and will mature on February 15, 2019. The bonds in the issue are now trading at $51.06 and were trading at $40.81 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.

BAS has been the topic of several recent research reports. Zacks Investment Research lowered shares of Basic Energy Services from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. Jefferies Group boosted their price objective on shares of Basic Energy Services from $1.00 to $1.50 and gave the stock a “hold” rating in a research report on Monday, July 11th. Deutsche Bank AG decreased their price objective on shares of Basic Energy Services from $5.00 to $2.00 and set a “buy” rating on the stock in a research report on Tuesday, July 26th. Iberia Capital lowered shares of Basic Energy Services from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 25th. Finally, Johnson Rice lowered shares of Basic Energy Services from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. Eighteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $2.68.

Basic Energy Services Inc. (NYSE:BAS) traded up 3.6110% during mid-day trading on Friday, reaching $0.6169. 1,002,715 shares of the company were exchanged. Basic Energy Services Inc. has a 12 month low of $0.37 and a 12 month high of $4.57. The company’s market cap is $25.21 million. The stock’s 50-day moving average is $0.60 and its 200-day moving average is $1.50.

Basic Energy Services (NYSE:BAS) last released its earnings results on Thursday, July 21st. The company reported ($1.34) earnings per share (EPS) for the quarter, topping 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 analysts expect that Basic Energy Services Inc. will post ($5.25) earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. raised its position 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 raised its position 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 raised its position 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 bought a new position in Basic Energy Services during the second quarter worth $744,000. Finally, Bridgeway Capital Management Inc. raised its position 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 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

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