Basic Energy Services, Inc. (BAS) Stock Rating Lowered by BidaskClub
BidaskClub cut shares of Basic Energy Services, Inc. (NYSE:BAS) from a sell rating to a strong sell rating in a research report released on Thursday.
Several other equities research analysts have also recently issued reports on BAS. Seaport Global Securities reissued a neutral rating on shares of Basic Energy Services in a research note on Friday, July 28th. Zacks Investment Research cut Basic Energy Services from a buy rating to a hold rating in a research note on Tuesday, August 1st. Nomura began coverage on Basic Energy Services in a research note on Wednesday, April 19th. They set a buy rating and a $51.00 target price for the company. Piper Jaffray Companies reissued a neutral rating and set a $26.50 target price (down previously from $33.00) on shares of Basic Energy Services in a research note on Wednesday, July 12th. Finally, Credit Suisse Group began coverage on Basic Energy Services in a research note on Friday, July 21st. They issued a neutral rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Basic Energy Services presently has an average rating of Hold and a consensus price target of $27.63.
Basic Energy Services (NYSE:BAS) opened at 15.52 on Thursday. The firm has a 50-day moving average price of $23.05 and a 200 day moving average price of $29.52. The company’s market cap is $382.79 million. Basic Energy Services has a 12 month low of $14.75 and a 12 month high of $44.81.
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In other news, Director Timothy H. Day acquired 15,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was acquired at an average cost of $18.69 per share, with a total value of $280,350.00. Following the completion of the purchase, the director now owns 20,200 shares of the company’s stock, valued at approximately $377,538. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Brett J. Taylor sold 7,857 shares of Basic Energy Services stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $18.07, for a total value of $141,975.99. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Basic Energy Services by 1,052,325.0% in the first quarter. JPMorgan Chase & Co. now owns 42,097 shares of the oil and gas company’s stock valued at $1,404,000 after buying an additional 42,093 shares during the last quarter. UBS Oconnor LLC bought a new position in Basic Energy Services during the first quarter valued at approximately $3,985,000. GeoSphere Capital Management bought a new position in Basic Energy Services during the first quarter valued at approximately $4,671,000. Trexquant Investment LP bought a new position in Basic Energy Services during the first quarter valued at approximately $820,000. Finally, UBS Group AG boosted its position in Basic Energy Services by 1,092.8% in the first quarter. UBS Group AG now owns 14,612 shares of the oil and gas company’s stock valued at $487,000 after buying an additional 13,387 shares during the last quarter. 96.06% of the stock is owned by hedge funds and other institutional investors.
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.
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