Basic Energy Services, Inc. (NYSE:BAS) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday.

A number of other research analysts also recently weighed in on BAS. Piper Jaffray Companies restated a “neutral” rating and set a $26.50 price objective (down previously from $33.00) on shares of Basic Energy Services in a research report on Wednesday, July 12th. Deutsche Bank AG restated a “hold” rating on shares of Basic Energy Services in a research report on Wednesday, March 29th. Nomura began coverage on shares of Basic Energy Services in a research report on Wednesday, April 19th. They set a “buy” rating and a $51.00 price objective on the stock. Zacks Investment Research downgraded shares of Basic Energy Services from a “buy” rating to a “hold” rating in a research report on Tuesday, March 28th. Finally, Seaport Global Securities upgraded shares of Basic Energy Services from a “neutral” rating to a “buy” rating in a research report on Thursday, March 30th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $16.20.

Shares of Basic Energy Services (NYSE:BAS) traded up 4.09% during midday trading on Wednesday, hitting $29.01. 356,151 shares of the stock traded hands. The firm’s market capitalization is $754.23 million. The company’s 50-day moving average is $25.27 and its 200 day moving average is $32.15. Basic Energy Services has a 52 week low of $19.79 and a 52 week high of $44.81.

WARNING: This piece of content was reported by Daily Political and is owned by of Daily Political. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://www.dailypolitical.com/2017/07/19/basic-energy-services-inc-nysebas-lifted-to-buy-at-bidaskclub.html.

A number of hedge funds have recently made changes to their positions in BAS. Victory Capital Management Inc. acquired a new stake in shares of Basic Energy Services during the first quarter worth approximately $28,891,000. Vanguard Group Inc. acquired a new stake in shares of Basic Energy Services during the first quarter worth approximately $20,818,000. Citadel Advisors LLC boosted its stake in shares of Basic Energy Services by 230.1% in the first quarter. Citadel Advisors LLC now owns 551,233 shares of the oil and gas company’s stock worth $18,389,000 after buying an additional 384,228 shares in the last quarter. Southpoint Capital Advisors LP acquired a new stake in shares of Basic Energy Services during the first quarter worth approximately $18,348,000. Finally, Jennison Associates LLC acquired a new stake in shares of Basic Energy Services during the first quarter worth approximately $14,423,000. 97.39% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Basic Energy Services (NYSE:BAS)

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.