Basic Energy Services, Inc. (NYSE:BAS) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Several other research firms have also commented on BAS. Credit Suisse Group started coverage on Basic Energy Services in a report on Friday, July 21st. They issued a “neutral” rating on the stock. Instinet reissued a “buy” rating on shares of Basic Energy Services in a report on Wednesday, April 19th. Nomura started coverage on Basic Energy Services in a report on Wednesday, April 19th. They issued a “buy” rating and a $51.00 target price on the stock. Zacks Investment Research raised Basic Energy Services from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Wednesday, July 26th. Finally, Piper Jaffray Companies reissued a “neutral” rating and issued a $26.50 target price (down previously from $33.00) on shares of Basic Energy Services in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.63.

Basic Energy Services (NYSE:BAS) opened at 17.47 on Wednesday. The firm’s 50-day moving average price is $24.89 and its 200 day moving average price is $31.25. Basic Energy Services has a 12-month low of $16.68 and a 12-month high of $44.81. The stock’s market capitalization is $430.88 million.

WARNING: This news story was first posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another domain, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The legal version of this news story can be viewed at https://www.dailypolitical.com/2017/08/09/basic-energy-services-inc-nysebas-downgraded-to-sell-at-bidaskclub.html.

Large investors have recently made changes to their positions in the company. Westpac Banking Corp purchased a new stake in shares of Basic Energy Services during the second quarter worth approximately $361,000. Swiss National Bank purchased a new stake in shares of Basic Energy Services during the second quarter worth approximately $904,000. Airain ltd increased its stake in shares of Basic Energy Services by 94.2% in the second quarter. Airain ltd now owns 30,178 shares of the oil and gas company’s stock worth $751,000 after buying an additional 14,639 shares during the last quarter. Royce & Associates LP increased its stake in shares of Basic Energy Services by 85.1% in the second quarter. Royce & Associates LP now owns 663,510 shares of the oil and gas company’s stock worth $16,521,000 after buying an additional 305,000 shares during the last quarter. Finally, Deprince Race & Zollo Inc. increased its stake in shares of Basic Energy Services by 20.0% in the second quarter. Deprince Race & Zollo Inc. now owns 26,400 shares of the oil and gas company’s stock worth $657,000 after buying an additional 4,400 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

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)

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.