Shares of Basic Energy Services, Inc. (NYSE:BAS) have received a consensus rating of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $29.36.
A number of brokerages have weighed in on BAS. ValuEngine cut Basic Energy Services from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Seaport Global Securities reaffirmed a “buy” rating and issued a $40.00 price target on shares of Basic Energy Services in a research report on Thursday, January 18th. Stephens began coverage on Basic Energy Services in a research report on Tuesday, January 9th. They issued an “equal weight” rating and a $26.00 price target for the company. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $24.50 price target on shares of Basic Energy Services in a research report on Friday, November 17th.
In related news, insider Thomas Monroe Patterson sold 1,500 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $23.18, for a total transaction of $34,770.00. Following the transaction, the insider now directly owns 41,273 shares in the company, valued at $956,708.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William Timothy Dame sold 3,859 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $24.19, for a total value of $93,349.21. The disclosure for this sale can be found here. Insiders have sold a total of 1,009,885 shares of company stock valued at $24,289,042 in the last three months. 0.69% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of BAS. State Street Corp bought a new position in Basic Energy Services during the second quarter valued at about $15,122,000. Citadel Advisors LLC increased its stake in Basic Energy Services by 406.3% during the third quarter. Citadel Advisors LLC now owns 604,092 shares of the oil and gas company’s stock valued at $11,659,000 after acquiring an additional 484,779 shares during the period. Vanguard Group Inc. increased its stake in Basic Energy Services by 74.5% during the second quarter. Vanguard Group Inc. now owns 1,088,728 shares of the oil and gas company’s stock valued at $27,109,000 after acquiring an additional 464,691 shares during the period. Deutsche Bank AG increased its stake in Basic Energy Services by 117.9% during the fourth quarter. Deutsche Bank AG now owns 658,045 shares of the oil and gas company’s stock valued at $15,443,000 after acquiring an additional 356,097 shares during the period. Finally, Millennium Management LLC increased its stake in Basic Energy Services by 46.9% during the fourth quarter. Millennium Management LLC now owns 1,000,893 shares of the oil and gas company’s stock valued at $23,491,000 after acquiring an additional 319,716 shares during the period.
Shares of Basic Energy Services (NYSE BAS) traded up $0.38 during trading hours on Wednesday, hitting $18.04. The company’s stock had a trading volume of 286,887 shares, compared to its average volume of 470,110. Basic Energy Services has a 12 month low of $14.03 and a 12 month high of $36.58. The firm has a market capitalization of $466.51 and a PE ratio of -4.90. The company has a quick ratio of 1.38, a current ratio of 1.57 and a debt-to-equity ratio of 0.77.
Basic Energy Services (NYSE:BAS) last announced its quarterly earnings results on Monday, February 26th. The oil and gas company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.15). Basic Energy Services had a negative return on equity of 16.12% and a negative net margin of 11.19%. The company had revenue of $235.27 million during the quarter, compared to analyst estimates of $232.46 million. equities analysts forecast that Basic Energy Services will post -0.66 earnings per share for the current fiscal year.
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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.
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