Basic Energy Services, Inc. (BAS) Director Buys $201,240.00 in Stock
Basic Energy Services, Inc. (NYSE:BAS) Director Timothy H. Day acquired 12,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average price of $16.77 per share, with a total value of $201,240.00. Following the acquisition, the director now owns 32,200 shares in the company, valued at approximately $539,994. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Basic Energy Services, Inc. (NYSE BAS) opened at 15.28 on Thursday. Basic Energy Services, Inc. has a 12 month low of $15.09 and a 12 month high of $44.81. The stock has a 50 day moving average price of $23.57 and a 200 day moving average price of $29.81. The company’s market cap is $376.87 million.
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BAS has been the subject of several research analyst reports. Credit Suisse Group initiated coverage on Basic Energy Services in a report on Friday, July 21st. They issued a “neutral” rating for the company. Instinet reiterated a “buy” rating on shares of Basic Energy Services in a report on Wednesday, April 19th. Nomura initiated coverage on Basic Energy Services in a report on Wednesday, April 19th. They issued a “buy” rating and a $51.00 price objective for the company. Zacks Investment Research upgraded Basic Energy Services from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Wednesday, July 26th. Finally, BidaskClub cut Basic Energy Services from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $27.63.
Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new stake in shares of Basic Energy Services during the second quarter worth about $112,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Basic Energy Services during the first quarter worth about $215,000. Wells Fargo & Company MN raised its stake in shares of 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 worth $239,000 after buying an additional 5,702 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Basic Energy Services during the fourth quarter worth about $243,000. Finally, Nationwide Fund Advisors purchased a new stake in shares of Basic Energy Services during the second quarter worth about $245,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.
About Basic Energy Services
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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