Basic Energy Services, Inc. (BAS) Stock Rating Reaffirmed by Piper Jaffray Companies
Piper Jaffray Companies reiterated their hold rating on shares of Basic Energy Services, Inc. (NYSE:BAS) in a research note published on Friday. The brokerage currently has a $26.50 price target on the oil and gas company’s stock.
A number of other equities analysts also recently commented on BAS. Seaport Global Securities downgraded shares of Basic Energy Services from a buy rating to a neutral rating in a report on Wednesday, June 21st. BidaskClub upgraded shares of Basic Energy Services from a hold rating to a buy rating in a report on Wednesday, July 19th. Credit Suisse Group started coverage on shares of Basic Energy Services in a report on Friday, July 21st. They issued a neutral rating for the company. Zacks Investment Research upgraded shares of Basic Energy Services from a hold rating to a buy rating and set a $31.00 target price for the company in a report on Wednesday, July 26th. Finally, Evercore ISI reiterated an outperform rating and issued a $19.00 target price on shares of Basic Energy Services in a report on Tuesday, September 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $25.90.
Shares of Basic Energy Services (NYSE:BAS) opened at 15.44 on Friday. Basic Energy Services has a 12 month low of $14.03 and a 12 month high of $44.81. The company’s 50-day moving average is $18.17 and its 200 day moving average is $26.52. The stock’s market capitalization is $380.81 million.
In other news, VP Brett J. Taylor sold 7,857 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $18.07, for a total transaction of $141,975.99. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Samuel E. Langford acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were bought at an average price of $14.20 per share, for a total transaction of $28,400.00. Following the acquisition, the director now owns 6,300 shares of the company’s stock, valued at $89,460. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 29,000 shares of company stock worth $509,990 and have sold 9,657 shares worth $169,540. Corporate insiders own 11.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Phocas Financial Corp. boosted its position in Basic Energy Services by 107.0% in the second quarter. Phocas Financial Corp. now owns 160,792 shares of the oil and gas company’s stock valued at $4,004,000 after buying an additional 83,108 shares during the last quarter. Glendon Capital Management LP purchased a new stake in Basic Energy Services in the second quarter valued at approximately $7,847,000. California State Teachers Retirement System purchased a new stake in Basic Energy Services in the second quarter valued at approximately $767,000. The Manufacturers Life Insurance Company boosted its position in Basic Energy Services by 1,638.9% in the second quarter. The Manufacturers Life Insurance Company now owns 14,711 shares of the oil and gas company’s stock valued at $366,000 after buying an additional 13,865 shares during the last quarter. Finally, State Street Corp purchased a new stake in Basic Energy Services in the second quarter valued at approximately $15,122,000.
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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