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Seaport Global Securities downgraded Basic Energy Services, Inc. (NYSE:BAS) to Neutral in a report released today.

Seaport Global Securities has downgraded Basic Energy Services, Inc. (NYSE:BAS) to Neutral in a report released on 6/21/2017.

Previously on 04/20/2017, Instinet reported about Basic Energy Services, Inc. (NYSE:BAS) raised the target price from $0.00 to $51.00. At the time, this indicated a possible upside of 0.67%.

Yesterday Basic Energy Services, Inc. (NYSE:BAS) traded 1.27% higher at $22.61. The company’s 50-day moving average is $15.34 and its 200-day moving average is $25.64. The last stock close price is down -40.83% from the 200-day moving average, compared to the S&P 500 which has increased 0.04% over the same time. 872,154 shares of the stock were exchanged, up from an average trading volume of 692,180

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Basic Energy Services, Inc. (NYSE:BAS)

Basic Energy Services, Inc. has a 52 week low of $14.80 and a 52 week high of $44.75 The company’s market cap is currently $0.

In addition to Seaport Global Securities reporting its target price, a total of 17 firms have reported on the stock. The consensus target price is $2.30 with 0 firms rating the stock a strong buy, 4 firms rating the stock a buy, 14 firms rating the stock a hold, 2 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Basic Energy Services, Inc. (NYSE:BAS)

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 operates through the segment, which include Completion and Remedial Services, Fluid Services, Well Servicing and Contract Drilling. The Company's operations are managed regionally and are concentrated in the 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.

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