Basic Energy Services (NYSE:BAS)‘s stock had its “buy” rating restated by Seaport Global Securities in a report released on Thursday. They presently have a $40.00 target price on the oil and gas company’s stock. Seaport Global Securities’ price target indicates a potential upside of 67.01% from the stock’s previous close.

BAS has been the subject of a number of other research reports. ValuEngine downgraded shares of Basic Energy Services from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Deutsche Bank started coverage on shares of Basic Energy Services in a report on Tuesday, October 10th. They set a “hold” rating and a $22.00 price objective for the company. Credit Suisse Group raised their price objective on shares of Basic Energy Services from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. Piper Jaffray Companies restated a “hold” rating and set a $26.50 price objective on shares of Basic Energy Services in a report on Friday, October 13th. Finally, Zacks Investment Research downgraded shares of Basic Energy Services from a “buy” rating to a “sell” rating in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $28.44.

Shares of Basic Energy Services (BAS) opened at $23.95 on Thursday. Basic Energy Services has a 1-year low of $14.03 and a 1-year high of $44.81. The company has a current ratio of 1.59, a quick ratio of 1.42 and a debt-to-equity ratio of 0.76. The stock has a market cap of $620.77 and a PE ratio of -3.66.

Basic Energy Services (NYSE:BAS) last posted its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.19. Basic Energy Services had a negative net margin of 29.23% and a negative return on equity of 24.91%. analysts forecast that Basic Energy Services will post -1.95 EPS for the current fiscal year.

In other news, insider Thomas Monroe Patterson sold 1,500 shares of Basic Energy Services stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $19.28, for a total value of $28,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ascribe Capital Llc sold 39,910 shares of Basic Energy Services stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $26.20, for a total transaction of $1,045,642.00. The disclosure for this sale can be found here. Insiders sold 1,574,792 shares of company stock valued at $36,810,543 in the last quarter. Corporate insiders own 0.69% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc purchased a new position in Basic Energy Services during the second quarter valued at approximately $112,000. Nationwide Fund Advisors purchased a new position in Basic Energy Services during the second quarter valued at approximately $245,000. Russell Investments Group Ltd. grew its stake in Basic Energy Services by 7.6% during the second quarter. Russell Investments Group Ltd. now owns 12,149 shares of the oil and gas company’s stock valued at $303,000 after acquiring an additional 853 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Basic Energy Services by 107.1% during the second quarter. Parametric Portfolio Associates LLC now owns 13,350 shares of the oil and gas company’s stock valued at $332,000 after acquiring an additional 6,905 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Basic Energy Services during the third quarter valued at approximately $264,000.

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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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