Zacks Investment Research upgraded shares of Basic Energy Services, Inc. (NYSE:BAS) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $31.00 target price on the oil and gas company’s stock.

According to Zacks, “Basic Energy Services provides a range of services to America’s oil and gas producers. Its operations span the heartland of domestic onshore production from Texas, Oklahoma, Louisiana and New Mexico to the Rocky Mountain states . Its services support the entire life cycle of a well – from drilling to production and finally – abandonment. They are committed to providing a safe and rewarding workplace, giving its customers the value they expect and doing our part to support a strong and viable oil and gas industry. “

Other research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Basic Energy Services from a hold rating to a buy rating in a report on Wednesday, July 19th. Instinet restated a buy rating on shares of Basic Energy Services in a report on Wednesday, April 19th. Nomura started coverage on shares of Basic Energy Services in a report on Wednesday, April 19th. They issued a buy rating and a $51.00 price target on the stock. Seaport Global Securities upgraded shares of Basic Energy Services from a neutral rating to a buy rating in a report on Thursday, March 30th. Finally, Deutsche Bank AG restated a hold rating on shares of Basic Energy Services in a report on Wednesday, March 29th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Basic Energy Services presently has a consensus rating of Hold and a consensus price target of $27.63.

Basic Energy Services (NYSE BAS) opened at 23.82 on Wednesday. The firm’s market cap is $619.84 million. Basic Energy Services has a one year low of $19.79 and a one year high of $44.81. The company has a 50 day moving average of $25.39 and a 200-day moving average of $31.73.

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A number of hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new stake in shares of Basic Energy Services during the first quarter valued at $28,891,000. Vanguard Group Inc. purchased a new stake in shares of Basic Energy Services during the first quarter valued at $20,818,000. Southpoint Capital Advisors LP purchased a new stake in shares of Basic Energy Services during the first quarter valued at $18,348,000. Jennison Associates LLC purchased a new stake in shares of Basic Energy Services during the first quarter valued at $14,423,000. Finally, Citadel Advisors LLC increased its stake in shares of Basic Energy Services by 230.1% in the first quarter. Citadel Advisors LLC now owns 551,233 shares of the oil and gas company’s stock valued at $18,389,000 after buying an additional 384,228 shares during the period. 97.40% of the stock is owned by institutional investors.

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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Analyst Recommendations for Basic Energy Services (NYSE:BAS)

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