ValuEngine lowered shares of Basic Energy Services (NYSE:BAS) from a hold rating to a sell rating in a report published on Friday.

Several other analysts have also issued reports on the company. Piper Jaffray Companies reissued a hold rating and set a $24.50 price target on shares of Basic Energy Services in a report on Friday, November 17th. Zacks Investment Research upgraded Basic Energy Services from a sell rating to a hold rating in a research report on Wednesday, November 8th. Credit Suisse Group boosted their price objective on Basic Energy Services from $21.00 to $23.00 and gave the company a neutral rating in a research report on Monday, November 6th. Deutsche Bank began coverage on Basic Energy Services in a research report on Tuesday, October 10th. They issued a hold rating and a $22.00 price objective on the stock. Finally, Evercore ISI restated an outperform rating and issued a $19.00 price objective on shares of Basic Energy Services in a research report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Basic Energy Services has a consensus rating of Hold and a consensus target price of $26.92.

Basic Energy Services (NYSE:BAS) traded up $1.24 during trading hours on Friday, reaching $23.61. The company’s stock had a trading volume of 308,700 shares, compared to its average volume of 571,075. Basic Energy Services has a twelve month low of $14.03 and a twelve month high of $44.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 1.42.

In related news, VP John Cody Bissett sold 2,500 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $19.50, for a total value of $48,750.00. Following the sale, the vice president now directly owns 3,401 shares in the company, valued at $66,319.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Silver Point Capital L.P. sold 875,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $22.75, for a total value of $19,906,250.00. The disclosure for this sale can be found here. Insiders sold 888,807 shares of company stock worth $20,174,030 over the last 90 days. Company insiders own 0.69% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. raised its position in Basic Energy Services by 7.6% during the second quarter. Russell Investments Group Ltd. now owns 12,149 shares of the oil and gas company’s stock valued at $303,000 after purchasing an additional 853 shares during the period. Deprince Race & Zollo Inc. raised its position in Basic Energy Services by 20.0% during the second quarter. Deprince Race & Zollo Inc. now owns 26,400 shares of the oil and gas company’s stock valued at $657,000 after purchasing an additional 4,400 shares during the period. Legal & General Group Plc purchased a new stake in Basic Energy Services during the second quarter valued at approximately $112,000. JPMorgan Chase & Co. raised its position in Basic Energy Services by 11.9% during the second quarter. JPMorgan Chase & Co. now owns 47,118 shares of the oil and gas company’s stock valued at $1,173,000 after purchasing an additional 5,021 shares during the period. Finally, Peregrine Capital Management LLC raised its position in Basic Energy Services by 2.1% during the third quarter. Peregrine Capital Management LLC now owns 262,723 shares of the oil and gas company’s stock valued at $5,071,000 after purchasing an additional 5,349 shares during the period.

TRADEMARK VIOLATION NOTICE: “Basic Energy Services (BAS) Downgraded by ValuEngine” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/12/04/basic-energy-services-bas-downgraded-by-valuengine.html.

Basic Energy Services Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Basic Energy Services (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.