Basic Energy Services, Inc. (NYSE:BAS) has received a consensus recommendation of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $28.57.
A number of brokerages have recently weighed in on BAS. Piper Jaffray set a $19.00 target price on Basic Energy Services and gave the stock a “hold” rating in a research note on Sunday, April 1st. ValuEngine upgraded Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Stephens began coverage on Basic Energy Services in a research note on Tuesday, January 9th. They set an “equal weight” rating and a $26.00 target price on the stock. Finally, Seaport Global Securities upgraded Basic Energy Services from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th.
In other Basic Energy Services news, major shareholder Ascribe Capital Llc sold 39,910 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $26.20, for a total value of $1,045,642.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Silver Point Capital L.P. sold 186,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $23.82, for a total value of $4,430,520.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 432,810 shares of company stock worth $10,501,971. Company insiders own 11.10% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. AXA lifted its stake in shares of Basic Energy Services by 24.1% in the 4th quarter. AXA now owns 26,800 shares of the oil and gas company’s stock valued at $629,000 after acquiring an additional 5,200 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Basic Energy Services by 56.1% in the 4th quarter. Alliancebernstein L.P. now owns 19,050 shares of the oil and gas company’s stock valued at $447,000 after acquiring an additional 6,850 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Basic Energy Services by 39.4% in the 3rd quarter. Wells Fargo & Company MN now owns 28,400 shares of the oil and gas company’s stock valued at $549,000 after acquiring an additional 8,028 shares during the last quarter. Kennedy Capital Management Inc. lifted its stake in shares of Basic Energy Services by 7.4% in the 4th quarter. Kennedy Capital Management Inc. now owns 123,396 shares of the oil and gas company’s stock valued at $2,896,000 after acquiring an additional 8,534 shares during the last quarter. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Basic Energy Services in the 4th quarter valued at $221,000.
NYSE:BAS traded down $1.09 on Friday, hitting $13.68. The company’s stock had a trading volume of 629,866 shares, compared to its average volume of 537,112. The company has a quick ratio of 1.38, a current ratio of 1.57 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $361.37, a price-to-earnings ratio of -5.87 and a beta of 2.68. Basic Energy Services has a one year low of $12.72 and a one year high of $35.84.
Basic Energy Services (NYSE:BAS) last announced its earnings results on Monday, February 26th. The oil and gas company reported ($0.55) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.15). The firm had revenue of $235.27 million for the quarter, compared to the consensus estimate of $232.46 million. Basic Energy Services had a negative return on equity of 16.12% and a negative net margin of 11.19%. equities research analysts expect that Basic Energy Services will post -0.68 EPS for the current year.
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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.
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