Piper Jaffray Companies Reiterates Hold Rating for Basic Energy Services, Inc. (BAS)

Piper Jaffray Companies reiterated their hold rating on shares of Basic Energy Services, Inc. (NYSE:BAS) in a report published on Friday, September 8th. Piper Jaffray Companies currently has a $26.50 target price on the oil and gas company’s stock.

Other analysts also recently issued research reports about the stock. Evercore ISI reaffirmed an outperform rating and issued a $19.00 price target on shares of Basic Energy Services in a report on Tuesday, September 5th. Seaport Global Securities downgraded shares of Basic Energy Services from a buy rating to a neutral rating in a report on Wednesday, June 21st. Credit Suisse Group assumed coverage on shares of Basic Energy Services in a report on Friday, July 21st. They issued a neutral rating on the stock. BidaskClub downgraded shares of Basic Energy Services from a hold rating to a sell rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of Basic Energy Services from a hold rating to a buy rating and set a $31.00 price target on the stock in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Basic Energy Services presently has an average rating of Hold and a consensus price target of $25.90.

Basic Energy Services (NYSE BAS) opened at 15.53 on Friday. The stock’s market capitalization is $383.03 million. The company has a 50-day moving average of $15.38 and a 200-day moving average of $18.52. Basic Energy Services has a 52 week low of $14.80 and a 52 week high of $44.75.

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In related news, Director Timothy H. Day purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average price of $18.69 per share, with a total value of $280,350.00. Following the completion of the transaction, the director now owns 20,200 shares of the company’s stock, valued at approximately $377,538. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brett J. Taylor sold 7,857 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $18.07, for a total transaction of $141,975.99. The disclosure for this sale can be found here. In the last three months, insiders have purchased 29,000 shares of company stock worth $509,990 and have sold 11,157 shares worth $192,325. Corporate insiders own 11.10% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in Basic Energy Services by 1,052,325.0% during the first quarter. JPMorgan Chase & Co. now owns 42,097 shares of the oil and gas company’s stock worth $1,404,000 after purchasing an additional 42,093 shares during the last quarter. UBS Oconnor LLC acquired a new position in Basic Energy Services during the first quarter worth approximately $3,985,000. Dupont Capital Management Corp increased its position in Basic Energy Services by 92.8% during the second quarter. Dupont Capital Management Corp now owns 63,850 shares of the oil and gas company’s stock worth $1,590,000 after purchasing an additional 30,739 shares during the last quarter. GeoSphere Capital Management acquired a new position in Basic Energy Services during the first quarter worth approximately $4,671,000. Finally, Trexquant Investment LP acquired a new position in Basic Energy Services during the first quarter worth approximately $820,000.

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.

Analyst Recommendations for Basic Energy Services (NYSE:BAS)

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