Price Target Update on Basic Energy Services (NYSE:BAS)

Basic Energy Services (NYSE:BAS) : The highest short term price target forecast on Basic Energy Services (NYSE:BAS) is $5 and the lowest target price is $2. A total of 10 equity analysts are currently covering the company. The average price of all the analysts is $2.63 with a standard deviation of $0.97.

Other Equity analysts have also commented on the company shares. In a research note released to the investors, Raymond James upgrades its rating on Basic Energy Services (NYSE:BAS).The analysts at the brokerage house have a current rating of Market Perform on the shares. Earlier, the shares were rated a Underperform by the brokerage firm. The rating by the firm was issued on April 22, 2016.

Basic Energy Services (NYSE:BAS): On Thursdays trading session , Opening price of the stock was $1.91 with an intraday high of $1.91. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $1.71. However, the stock managed to close at $1.75, a loss of 1.69% for the day. On the previous day, the stock had closed at $1.78. The total traded volume of the day was 2,302,922 shares.

The company shares have dropped -75.14% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $7.90 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $2.14 and the 200 Day Moving Average price is recorded at $2.37. On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Vice President -Human Resource) of Basic Energy Services Inc, Lannen Eric, had purchased 4,200 shares in a transaction dated on March 3, 2016. The transaction was executed at $2.35 per share with total amount equaling $9,870.

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 Companys operations are managed regionally and are concentrated in major United States onshore oil and natural gas producing regions located in Texas, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota, Colorado, Utah, Montana, West Virginia, California, Ohio and Pennsylvania. Its operations are focused on liquids-rich basins, as well as natural gas-focused shale plays characterized by prolific reserves. It has a presence in the Permian Basin and the Bakken, Eagle Ford, Haynesville and Marcellus shales. It provides its services to around 2,000 oil and gas companies. Its operating segments are Completion and Remedial Services, Fluid Services, Well Servicing and Contract Drilling.

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