Basic Energy Services (BAS) : Analyst Rating Update

Basic Energy Services (BAS) has an average broker rating of 2.79, which is interpreted as a Hold, as rated by 14 equity analysts. Nonetheless, 1 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 1 other analysts advise a Buy. Nevertheless, the majority of 12 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 4, which is also a Sell.

Basic Energy Services (BAS) : Currently there are 10 street experts covering Basic Energy Services (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.

Basic Energy Services (NYSE:BAS): The stock opened at $1.49 on Wednesday but the bulls could not build on the opening and the stock topped out at $1.50 for the day. The stock traded down to $1.45 during the day, due to lack of any buying support eventually closed down at $1.46 with a loss of -3.31% for the day. The stock had closed at $1.51 on the previous day. The total traded volume was 967,347 shares.

Also, Raymond James 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 Market Perform by the stock experts at the ratings house. Earlier, the shares had a rating of Underperform. The rating by the firm was issued on April 22, 2016. The company shares have dropped -75.37% from its 1 Year high price. On Aug 12, 2015, the shares registered one year high at $7.18 and the one year low was seen on Jun 27, 2016. The 50-Day Moving Average price is $1.90 and the 200 Day Moving Average price is recorded at $2.29.

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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