Basic Energy Services (NYSE:BAS) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.

Other analysts also recently issued research reports about the stock. Seaport Global Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Basic Energy Services in a report on Thursday, January 18th. Zacks Investment Research raised shares of Basic Energy Services from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Stephens assumed coverage on shares of Basic Energy Services in a report on Tuesday, January 9th. They set an “equal weight” rating and a $26.00 price target on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and set a $24.50 price target on shares of Basic Energy Services in a report on Friday, November 17th. Finally, Credit Suisse Group raised their price target on shares of Basic Energy Services from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Basic Energy Services presently has an average rating of “Hold” and a consensus target price of $28.44.

Shares of Basic Energy Services (NYSE BAS) opened at $17.36 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.42 and a current ratio of 1.59. The stock has a market cap of $475.53 and a PE ratio of -2.80. Basic Energy Services has a 1-year low of $14.03 and a 1-year high of $44.81.

In other news, CAO John Cody Bissett sold 5,500 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $23.40, for a total value of $128,700.00. Following the transaction, the chief accounting officer now owns 3,749 shares in the company, valued at approximately $87,726.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Monroe Patterson sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $19.28, for a total transaction of $28,920.00. The disclosure for this sale can be found here. Insiders sold a total of 1,012,085 shares of company stock worth $24,346,321 in the last quarter. Company insiders own 0.69% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Basic Energy Services by 74.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,088,728 shares of the oil and gas company’s stock worth $27,109,000 after purchasing an additional 464,691 shares during the period. Janus Henderson Group PLC bought a new position in shares of Basic Energy Services in the 2nd quarter worth approximately $25,018,000. Royce & Associates LP lifted its stake in shares of Basic Energy Services by 31.0% in the 3rd quarter. Royce & Associates LP now owns 869,015 shares of the oil and gas company’s stock worth $16,772,000 after purchasing an additional 205,505 shares during the period. State Street Corp bought a new stake in Basic Energy Services during the 2nd quarter worth approximately $15,122,000. Finally, Citadel Advisors LLC raised its stake in Basic Energy Services by 406.3% during the 3rd quarter. Citadel Advisors LLC now owns 604,092 shares of the oil and gas company’s stock worth $11,659,000 after acquiring an additional 484,779 shares during the period.

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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.

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

Analyst Recommendations for Basic Energy Services (NYSE:BAS)

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