Basic Energy Services (BAS) PT Set at $19.00 by Piper Jaffray

Basic Energy Services (NYSE:BAS) has been assigned a $19.00 price target by equities research analysts at Piper Jaffray in a report issued on Sunday. The firm presently has a “hold” rating on the oil and gas company’s stock. Piper Jaffray’s price target points to a potential upside of 31.58% from the stock’s previous close.

Several other equities analysts have also recently commented on BAS. ValuEngine raised shares of Basic Energy Services from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Stephens began coverage on shares of Basic Energy Services in a research report on Tuesday, January 9th. They set an “equal weight” rating and a $26.00 price target on the stock. Finally, Seaport Global Securities raised shares of Basic Energy Services from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Basic Energy Services currently has an average rating of “Hold” and a consensus target price of $27.75.

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Shares of Basic Energy Services stock opened at $14.44 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.57 and a quick ratio of 1.38. The stock has a market cap of $381.45, a PE ratio of -6.20 and a beta of 2.68. Basic Energy Services has a 1-year low of $14.02 and a 1-year high of $35.84.

Basic Energy Services (NYSE:BAS) last issued its quarterly earnings results on Monday, February 26th. The oil and gas company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.15). Basic Energy Services had a negative return on equity of 16.12% and a negative net margin of 11.19%. The company had revenue of $235.27 million for the quarter, compared to the consensus estimate of $232.46 million. analysts predict that Basic Energy Services will post -0.53 EPS for the current fiscal year.

In other Basic Energy Services news, Director Silver Point Capital L.P. sold 45,000 shares of the firm’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $25.56, for a total value of $1,150,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ascribe Capital Llc sold 39,910 shares of the firm’s 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 have sold 433,310 shares of company stock worth $10,514,471 in the last ninety days. Corporate insiders own 0.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Phocas Financial Corp. lifted its holdings in Basic Energy Services by 112.2% in the fourth quarter. Phocas Financial Corp. now owns 349,104 shares of the oil and gas company’s stock worth $8,193,000 after acquiring an additional 184,589 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Basic Energy Services in the fourth quarter worth about $221,000. Municipal Employees Retirement System of Michigan bought a new position in Basic Energy Services in the fourth quarter worth about $922,000. Millennium Management LLC lifted its holdings in Basic Energy Services by 46.9% in the fourth quarter. Millennium Management LLC now owns 1,000,893 shares of the oil and gas company’s stock worth $23,491,000 after acquiring an additional 319,716 shares during the last quarter. Finally, Cushing Asset Management LP lifted its holdings in Basic Energy Services by 222.7% in the fourth quarter. Cushing Asset Management LP now owns 32,272 shares of the oil and gas company’s stock worth $757,000 after acquiring an additional 22,272 shares during the last quarter.

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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.

Analyst Recommendations for Basic Energy Services (NYSE:BAS)

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