Basic Energy Services, Inc (NYSE:BAS) was downgraded by investment analysts at Tudor Pickering from an “accumulate” rating to a “hold” rating in a report released on Monday, The Fly reports.

Shares of Basic Energy Services (NYSE:BAS) traded down 8.19% during trading on Monday, reaching $2.13. The company had a trading volume of 333,945 shares. Basic Energy Services has a 52 week low of $1.60 and a 52 week high of $10.50. The stock’s 50-day moving average price is $2.48 and its 200-day moving average price is $4.19. The company’s market capitalization is $86.47 million.

Basic Energy Services (NYSE:BAS) last issued its quarterly earnings results on Thursday, October 22nd. The company reported ($1.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.18) by $0.08. During the same period in the prior year, the company posted $0.24 earnings per share. The business earned $189.25 million during the quarter, compared to the consensus estimate of $193.42 million. The business’s revenue for the quarter was down 52.0% compared to the same quarter last year. On average, equities analysts expect that Basic Energy Services will post ($4.54) EPS for the current fiscal year.

In other Basic Energy Services news, CEO Thomas Monroe Patterson acquired 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 15th. The shares were purchased at an average cost of $2.37 per share, for a total transaction of $28,440.00. Following the completion of the acquisition, the chief executive officer now owns 618,501 shares of the company’s stock, valued at approximately $1,465,847.37. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

A number of other research firms have also weighed in on BAS. Iberia Capital reiterated an “outperform” rating and set a $8.00 price objective on shares of Basic Energy Services in a research note on Tuesday, October 6th. SunTrust reduced their price objective on Basic Energy Services from $4.00 to $3.50 in a research note on Wednesday, October 7th. Zacks Investment Research lowered Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Thursday, October 8th. Robert W. Baird reduced their price objective on Basic Energy Services from $8.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. Finally, Cowen and Company lowered Basic Energy Services from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $11.00 to $5.00 in a research note on Thursday, October 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the stock. Basic Energy Services currently has a consensus rating of “Hold” and a consensus target price of $5.87.

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 Company’s 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.

12 Month Chart for NYSE:BAS

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