Deutsche Bank AG initiated coverage on shares of Basic Energy Services, Inc. (NYSE:BAS) in a research note published on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a hold rating and a $22.00 price objective on the oil and gas company’s stock.

A number of other analysts also recently commented on BAS. Seaport Global Securities downgraded shares of Basic Energy Services from a buy rating to a neutral rating in a report on Wednesday, June 21st. Piper Jaffray Companies reiterated a neutral rating and issued a $26.50 target price (down from $33.00) on shares of Basic Energy Services in a report on Wednesday, July 12th. BidaskClub upgraded shares of Basic Energy Services from a hold rating to a buy rating in a report on Wednesday, July 19th. Credit Suisse Group started coverage on shares of Basic Energy Services in a report on Friday, July 21st. They issued a neutral rating on the stock. Finally, Zacks Investment Research upgraded shares of Basic Energy Services from a hold rating to a buy rating and set a $31.00 target price on the stock in a report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Basic Energy Services presently has an average rating of Hold and a consensus target price of $26.92.

Basic Energy Services (BAS) opened at 18.41 on Tuesday. The stock’s 50 day moving average is $17.82 and its 200-day moving average is $17.82. Basic Energy Services has a 52 week low of $14.80 and a 52 week high of $44.75. The stock’s market capitalization is $454.06 million.

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In other news, Director Timothy H. Day purchased 15,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were acquired at an average price of $18.69 per share, for a total transaction of $280,350.00. Following the completion of the acquisition, the director now directly owns 20,200 shares of the company’s stock, valued at $377,538. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy H. Day purchased 12,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were purchased at an average price of $16.77 per share, for a total transaction of $201,240.00. Following the acquisition, the director now directly owns 32,200 shares of the company’s stock, valued at $539,994. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 29,000 shares of company stock worth $509,990 and have sold 13,957 shares worth $246,688. 11.10% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new position in Basic Energy Services in the 2nd quarter valued at approximately $112,000. Parametric Portfolio Associates LLC acquired a new position in Basic Energy Services in the 1st quarter valued at approximately $215,000. Wells Fargo & Company MN increased its stake in Basic Energy Services by 393.2% in 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 acquired a new position in Basic Energy Services in the 2nd quarter valued at approximately $245,000. Finally, SG Americas Securities LLC acquired a new position in Basic Energy Services in the 1st quarter valued at approximately $366,000.

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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