Zacks Investment Research Lowers Basic Energy Services (NASDAQ:BASX) to Hold

Zacks Investment Research downgraded shares of Basic Energy Services (NASDAQ:BASX) from a buy rating to a hold rating in a report released on Monday morning, reports.

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. “

Basic Energy Services stock opened at $0.20 on Monday. Basic Energy Services has a twelve month low of $0.15 and a twelve month high of $5.22. The stock’s fifty day moving average is $0.25.

Basic Energy Services Company Profile

Basic Energy Services, Inc provides well site services to oil and natural gas drilling and producing companies in the United States. The company operates through Completion and Remedial Services, Well Servicing, Water Logistics, and Contract Drilling segments. The Completion and Remedial Services segment offers pumping services, such as cementing, acidizing, fracturing, nitrogen, and pressure testing; rental and fishing tools; coiled tubing; snubbing services; thru-tubing; underbalanced drilling in low pressure and fluid sensitive reservoirs; and cased-hole wireline services.

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