Analyst Rating Update on Basic Energy Services (BAS)

Basic Energy Services (NYSE:BAS) : 1 brokerage houses believe that Basic Energy Services (NYSE:BAS) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 12 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Basic Energy Services (NYSE:BAS). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 14 Wall Street Analysts endorse the stock as a Hold with a rating of 2.79.

Basic Energy Services (NYSE:BAS) : Currently there are 10 street experts covering Basic Energy Services (NYSE:BAS) stock. The most bullish and bearish price target for the stock is $5 and $2 respectively for the short term. The average price target of all the analysts comes to $2.53. The estimated standard deviation from the target is $1.03.

Company shares have received an average consensus rating of Hold for the current week Also, Raymond James upgrades its rating on Basic Energy Services (NYSE:BAS). Analysts at the Raymond James have a current rating of Market Perform on the shares. The shares were previously rated Underperform. The rating by the firm was issued on April 22, 2016.

Basic Energy Services (NYSE:BAS): stock turned positive on Tuesday. Though the stock opened at $1.51, the bulls momentum made the stock top out at $1.54 level for the day. The stock recorded a low of $1.45 and closed the trading day at $1.47, in the green by 0.68%. The total traded volume for the day was 1,291,067. The stock had closed at $1.46 in the previous days trading.

In an insider trading activity, Lannen Eric, officer (Vice President -Human Resource) of Basic Energy Services Inc, executed a transaction worth $9,870 on March 3, 2016. A total of 4,200 shares were purchased at an average price of $2.35. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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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