Basic Energy Services, Inc. (NYSE:BAS) Director Timothy H. Day acquired 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was bought at an average cost of $18.69 per share, for a total transaction of $280,350.00. Following the completion of the purchase, the director now directly owns 20,200 shares in the company, valued at approximately $377,538. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Basic Energy Services, Inc. (BAS) traded down 5.44% on Wednesday, reaching $16.52. The company’s stock had a trading volume of 868,444 shares. Basic Energy Services, Inc. has a 1-year low of $16.33 and a 1-year high of $44.81. The firm’s market cap is $407.45 million. The company’s 50 day moving average is $25.17 and its 200-day moving average is $31.47.
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BAS has been the topic of a number of recent analyst reports. Credit Suisse Group initiated coverage on Basic Energy Services in a research note on Friday, July 21st. They issued a “neutral” rating on the stock. Instinet reissued a “buy” rating on shares of Basic Energy Services in a research note on Wednesday, April 19th. Nomura initiated coverage on Basic Energy Services in a research note on Wednesday, April 19th. They issued a “buy” rating and a $51.00 price objective on the stock. Zacks Investment Research raised Basic Energy Services from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Wednesday, July 26th. Finally, BidaskClub downgraded Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $27.63.
A number of hedge funds have recently added to or reduced their stakes in BAS. Legal & General Group Plc acquired a new stake in Basic Energy Services during the second quarter valued at about $112,000. Parametric Portfolio Associates LLC acquired a new stake in Basic Energy Services during the first quarter valued at about $215,000. Wells Fargo & Company MN raised its stake in Basic Energy Services by 393.2% in the first quarter. Wells Fargo & Company MN now owns 7,152 shares of the oil and gas company’s stock valued at $239,000 after buying an additional 5,702 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Basic Energy Services during the fourth quarter valued at about $243,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Basic Energy Services during the first quarter valued at about $323,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.
Basic Energy Services Company Profile
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.
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