Shares of Basic Energy Services, Inc. (NYSE:BAS) have received a consensus rating of “Hold” from the fifteen brokerages that are covering the firm. Eleven research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $14.06.
Several research analysts have recently issued reports on BAS shares. Seaport Global Securities raised Basic Energy Services from a “neutral” rating to a “buy” rating in a research report on Thursday, March 30th. Instinet reissued a “buy” rating on shares of Basic Energy Services in a research report on Wednesday. Nomura started coverage on Basic Energy Services in a research report on Wednesday. They issued a “buy” rating and a $51.00 target price for the company. Deutsche Bank AG reissued a “hold” rating on shares of Basic Energy Services in a research report on Wednesday, March 29th. Finally, Zacks Investment Research cut Basic Energy Services from a “buy” rating to a “hold” rating in a research report on Tuesday, March 28th.
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Shares of Basic Energy Services (NYSE:BAS) traded down 0.07% during midday trading on Monday, reaching $30.66. 1,121,492 shares of the company were exchanged. The stock’s market capitalization is $739.21 million. Basic Energy Services has a 12-month low of $29.06 and a 12-month high of $44.81. The company has a 50 day moving average price of $33.16 and a 200-day moving average price of $36.71.
Basic Energy Services (NYSE:BAS) last posted its earnings results on Thursday, March 23rd. The oil and gas company reported ($1.18) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.22) by $0.04. Basic Energy Services had a negative return on equity of 380.17% and a negative net margin of 57.96%. The company had revenue of $155.53 million for the quarter, compared to the consensus estimate of $156.22 million. On average, analysts forecast that Basic Energy Services will post ($1.98) earnings per share for the current fiscal year.
In other news, major shareholder Ascribe Capital Llc sold 11,900 shares of the stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $35.68, for a total transaction of $424,592.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Silver Point Capital L.P. sold 131,382 shares of the stock in a transaction that occurred on Thursday, January 26th. The stock was sold at an average price of $41.01, for a total value of $5,387,975.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,077,836 shares of company stock valued at $45,369,089. Company insiders own 11.10% of the company’s stock.
Several institutional investors have recently modified their holdings of BAS. Russell Investments Group Ltd. acquired a new position in shares of Basic Energy Services during the fourth quarter worth about $243,000. Hudson Bay Capital Management LP acquired a new position in shares of Basic Energy Services during the fourth quarter worth about $354,000. AlphaMark Advisors LLC increased its position in shares of Basic Energy Services by 3.4% in the third quarter. AlphaMark Advisors LLC now owns 649,934 shares of the oil and gas company’s stock worth $539,000 after buying an additional 21,500 shares during the period. Thomson Horstmann & Bryant Inc. acquired a new position in shares of Basic Energy Services during the first quarter worth about $567,000. Finally, California Public Employees Retirement System increased its position in shares of Basic Energy Services by 13.1% in the third quarter. California Public Employees Retirement System now owns 1,335,100 shares of the oil and gas company’s stock worth $1,107,000 after buying an additional 155,000 shares during the period.
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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