Shares of Basic Energy Services, Inc. (NYSE:BAS) have been given an average rating of “Hold” by the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $29.36.

A number of research analysts recently weighed in on BAS shares. Seaport Global Securities raised shares of Basic Energy Services from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. Stephens started coverage on shares of Basic Energy Services in a research report on Tuesday, January 9th. They issued an “equal weight” rating and a $26.00 target price for the company. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $24.50 target price on shares of Basic Energy Services in a research report on Friday, November 17th. Zacks Investment Research raised shares of Basic Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Credit Suisse Group increased their price target on shares of Basic Energy Services from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, November 6th.

Basic Energy Services (NYSE BAS) traded down $0.16 during trading on Friday, reaching $17.32. 37,435 shares of the company were exchanged, compared to its average volume of 434,326. The company has a market capitalization of $454.97 and a P/E ratio of -2.68. Basic Energy Services has a 1-year low of $14.03 and a 1-year high of $44.50. 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 other news, major shareholder Ascribe Capital Llc sold 39,910 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $26.20, for a total transaction of $1,045,642.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alan Krenek sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $25.05, for a total transaction of $112,725.00. Following the sale, the chief financial officer now owns 41,654 shares of the company’s stock, valued at approximately $1,043,432.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,012,385 shares of company stock valued at $24,351,406. Corporate insiders own 0.69% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BAS. Schwab Charles Investment Management Inc. acquired a new stake in shares of Basic Energy Services during the 2nd quarter worth about $1,090,000. Legal & General Group Plc acquired a new stake in shares of Basic Energy Services during the 2nd quarter worth about $112,000. Swiss National Bank acquired a new stake in shares of Basic Energy Services during the 2nd quarter worth about $904,000. JPMorgan Chase & Co. lifted its stake in shares of Basic Energy Services by 11.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 47,118 shares of the oil and gas company’s stock worth $1,173,000 after buying an additional 5,021 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Basic Energy Services by 184.8% during the 2nd quarter. Wells Fargo & Company MN now owns 20,372 shares of the oil and gas company’s stock worth $507,000 after buying an additional 13,220 shares during the last quarter.

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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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