Other research analysts also recently issued reports about the company. Instinet reissued a buy rating on shares of Basic Energy Services in a research note on Wednesday, April 19th. Credit Suisse Group initiated coverage on Basic Energy Services in a research note on Friday, July 21st. They issued a neutral rating for the company. BidaskClub raised Basic Energy Services from a hold rating to a buy rating in a research report on Wednesday, July 19th. Piper Jaffray Companies restated a neutral rating and set a $26.50 target price (down from $33.00) on shares of Basic Energy Services in a report on Wednesday, July 12th. Finally, Nomura assumed coverage on Basic Energy Services in a report on Wednesday, April 19th. They set a buy rating and a $51.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $27.63.
Basic Energy Services (NYSE:BAS) opened at 15.52 on Friday. The firm has a 50-day moving average of $23.05 and a 200 day moving average of $29.52. The company’s market capitalization is $382.79 million. Basic Energy Services has a 12-month low of $14.75 and a 12-month high of $44.81.
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In related news, Director Timothy H. Day acquired 12,000 shares of Basic Energy Services stock in a transaction dated Thursday, August 10th. The shares were acquired at an average cost of $16.77 per share, for a total transaction of $201,240.00. Following the completion of the transaction, the director now directly owns 32,200 shares of the company’s stock, valued at $539,994. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy H. Day bought 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average price of $18.69 per share, with a total value of $280,350.00. Following the completion of the purchase, the director now directly owns 20,200 shares of the company’s stock, valued at approximately $377,538. The disclosure for this purchase can be found here. 11.10% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Legal & General Group Plc bought a new stake in Basic Energy Services during the second quarter worth about $112,000. Parametric Portfolio Associates LLC acquired a new position in shares of Basic Energy Services during the first quarter worth approximately $215,000. Wells Fargo & Company MN increased its position in shares of Basic Energy Services by 393.2% in the first quarter. Wells Fargo & Company MN now owns 7,152 shares of the oil and gas company’s stock worth $239,000 after buying an additional 5,702 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Basic Energy Services during the fourth quarter worth approximately $243,000. Finally, Nationwide Fund Advisors acquired a new position in shares of Basic Energy Services during the second quarter worth approximately $245,000. Institutional investors and hedge funds own 96.06% of the company’s stock.
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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