Basic Energy Services (BAS) Receives ‘Analyst’ Rating

Basic Energy Services (BAS) : Zacks Investment Research ranks Basic Energy Services (BAS) as 3, which is a Hold recommendation. 1 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 9 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 10 research analysts is 2.8, which indicates as a Hold.

Basic Energy Services (BAS) : 6 investment research analysts covering Basic Energy Services (BAS) have an average price target of $1.13 for the near short term. The highest target price given by the Brokerage Firm to the stock is $2 and the lowest target is $1 for the short term. Analysts expect the variance to be within $0.44 of the average price.


Also, Macquarie upgrades its view on Basic Energy Services (NYSE:BAS) according to the research report released by the firm to its investors. The shares have now been rated Neutral by the stock experts at the ratings house. Earlier, the shares had a rating of Underperform. The rating by the firm was issued on August 9, 2016.

Basic Energy Services (NYSE:BAS): The stock opened in the green at $0.63 on Thursday, but the bulls found it difficult to push the prices higher. The stock reached a high of $0.67 and a low of $0.5528 for the day. The stock did not find buyers even at the lows and closed at $0.567 recording a loss of -3.46%. 2,506,360 shares exchanged hands during the trading day. The stock had closed at $0.5873 in the previous days trading.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.