Deutsche Bank AG assumed coverage on shares of Basic Energy Services, Inc. (NYSE:BAS) in a research note published on Tuesday, Marketbeat Ratings reports. The firm issued a hold rating and a $22.00 price target on the oil and gas company’s stock.
BAS has been the subject of several other reports. BidaskClub raised shares of Basic Energy Services from a hold rating to a buy rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Basic Energy Services from a hold rating to a buy rating and set a $31.00 target price for the company in a research note on Wednesday, July 26th. Credit Suisse Group started coverage on shares of Basic Energy Services in a research note on Friday, July 21st. They issued a neutral rating for the company. Piper Jaffray Companies reaffirmed a neutral rating and issued a $26.50 target price (down from $33.00) on shares of Basic Energy Services in a research note on Wednesday, July 12th. Finally, Seaport Global Securities cut shares of Basic Energy Services from a buy rating to a neutral rating in a research note on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and an average price target of $26.92.
Basic Energy Services (NYSE:BAS) opened at 18.34 on Tuesday. The stock’s market capitalization is $452.34 million. The company has a 50-day moving average price of $17.79 and a 200 day moving average price of $17.79. Basic Energy Services has a 12 month low of $14.80 and a 12 month high of $44.75.
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In related news, Director Samuel E. Langford acquired 2,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was bought at an average cost of $14.20 per share, with a total value of $28,400.00. Following the purchase, the director now directly owns 6,300 shares of the company’s stock, valued at $89,460. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Brett J. Taylor sold 7,857 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were 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. Over the last three months, insiders have bought 29,000 shares of company stock valued at $509,990 and have sold 13,957 shares valued at $246,688. 11.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in BAS. Legal & General Group Plc purchased a new stake in shares of Basic Energy Services during the 2nd quarter valued at $112,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Basic Energy Services during the 1st quarter valued at $215,000. Wells Fargo & Company MN grew its stake in shares of Basic Energy Services by 393.2% during the 1st quarter. Wells Fargo & Company MN now owns 7,152 shares of the oil and gas company’s stock valued at $239,000 after buying an additional 5,702 shares during the period. Nationwide Fund Advisors purchased a new stake in shares of Basic Energy Services during the 2nd quarter valued at $245,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Basic Energy Services by 7.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 12,149 shares of the oil and gas company’s stock valued at $303,000 after buying an additional 853 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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