Basic Energy Services (BAS) Receives Price Target

Basic Energy Services (BAS) : The most positive equity analysts on Basic Energy Services (BAS) expects the shares to touch $2, whereas, the least positive believes that the stock will trade at $1 in the short term. The company is covered by 6 Wall Street Brokerage Firms. The average price target for shares are $1.13 with an expected fluctuation of $0.44 from the mean.

Basic Energy Services (BAS) : The consensus on Basic Energy Services (BAS) based on 11 analyst recommendation on the company stock is 2.73, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 9 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.


Also, Macquarie upgrades their rating on the shares of Basic Energy Services (NYSE:BAS). The current rating of the shares is Neutral. Earlier, the shares were rated a Underperform by the brokerage firm. The rating by the firm was issued on August 9, 2016.

Basic Energy Services (NYSE:BAS): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $0.37 and $0.37 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $0.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $0.45, notching a gain of 21.05% for the day. The total traded volume was 2,206,109 . The stock had closed at $0.37 on the previous day.

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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