Stephens started coverage on shares of Basic Energy Services (NYSE:BAS) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $26.00 price objective on the oil and gas company’s stock.

BAS has been the subject of several other reports. ValuEngine lowered shares of Basic Energy Services from a hold rating to a sell rating in a research report on Friday, December 1st. Seaport Global Securities upgraded shares of Basic Energy Services from a neutral rating to a buy rating in a research report on Wednesday, December 20th. Deutsche Bank began coverage on shares of Basic Energy Services in a research report on Tuesday, October 10th. They set a hold rating and a $22.00 target price for the company. Credit Suisse Group lifted their price target on shares of Basic Energy Services from $21.00 to $23.00 and gave the stock a neutral rating in a research note on Monday, November 6th. Finally, Piper Jaffray Companies reissued a hold rating and set a $26.50 price target on shares of Basic Energy Services in a research note on Friday, October 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $26.79.

Shares of Basic Energy Services (BAS) traded down $0.81 during trading on Tuesday, reaching $24.91. 378,449 shares of the company’s stock traded hands, compared to its average volume of 359,892. Basic Energy Services has a twelve month low of $14.03 and a twelve month high of $44.81. The company has a market capitalization of $669.44 and a price-to-earnings ratio of -3.82. The company has a current ratio of 1.59, a quick ratio of 1.42 and a debt-to-equity ratio of 0.76.

In related news, insider Thomas Monroe Patterson sold 1,500 shares of Basic Energy Services stock in a transaction on Monday, October 16th. The shares were sold at an average price of $18.83, for a total value of $28,245.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP James F. Newman sold 5,000 shares of Basic Energy Services stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $23.57, for a total transaction of $117,850.00. Following the completion of the transaction, the senior vice president now directly owns 29,753 shares in the company, valued at $701,278.21. The disclosure for this sale can be found here. Insiders have sold 1,505,792 shares of company stock worth $35,023,488 over the last three months. Insiders own 11.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Key Group Holdings Cayman LTD. purchased a new position in shares of Basic Energy Services in the second quarter worth $40,639,000. Vanguard Group Inc. increased its stake in shares of Basic Energy Services by 74.5% in the second quarter. Vanguard Group Inc. now owns 1,088,728 shares of the oil and gas company’s stock worth $27,109,000 after buying an additional 464,691 shares during the period. Cramer Rosenthal Mcglynn LLC increased its stake in shares of Basic Energy Services by 22.7% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,022,597 shares of the oil and gas company’s stock worth $25,463,000 after buying an additional 189,017 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Basic Energy Services in the second quarter worth $25,018,000. Finally, Royce & Associates LP increased its stake in shares of Basic Energy Services by 31.0% in the third quarter. Royce & Associates LP now owns 869,015 shares of the oil and gas company’s stock worth $16,772,000 after buying an additional 205,505 shares during the period.

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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.

Analyst Recommendations for Basic Energy Services (NYSE:BAS)

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