Basic Energy Services, Inc. (BAS) Position Lessened by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. trimmed its holdings in shares of Basic Energy Services, Inc. (NYSE:BAS) by 22.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 923,235 shares of the oil and gas company’s stock after selling 260,788 shares during the quarter. Goldman Sachs Group Inc. owned 3.74% of Basic Energy Services worth $22,988,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. PDT Partners LLC acquired a new stake in shares of Basic Energy Services during the 2nd quarter worth about $5,391,000. Balyasny Asset Management LLC boosted its holdings in Basic Energy Services by 39.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 329,845 shares of the oil and gas company’s stock valued at $8,213,000 after acquiring an additional 93,482 shares during the period. Dimensional Fund Advisors LP purchased a new position in Basic Energy Services during the 2nd quarter valued at about $4,054,000. Parametric Portfolio Associates LLC boosted its holdings in Basic Energy Services by 107.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,350 shares of the oil and gas company’s stock valued at $332,000 after acquiring an additional 6,905 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in Basic Energy Services by 923.7% during the 2nd quarter. Quantbot Technologies LP now owns 26,012 shares of the oil and gas company’s stock valued at $647,000 after acquiring an additional 23,471 shares during the period.
A number of equities analysts recently commented on the company. Deutsche Bank AG assumed coverage on Basic Energy Services in a report on Tuesday. They set a “hold” rating and a $22.00 target price for the company. Zacks Investment Research cut Basic Energy Services from a “buy” rating to a “sell” rating in a research note on Wednesday, October 4th. Credit Suisse Group reiterated a “neutral” rating and issued a $21.00 price objective (down previously from $30.00) on shares of Basic Energy Services in a research note on Monday, September 25th. Piper Jaffray Companies reissued a “hold” rating and set a $26.50 target price on shares of Basic Energy Services in a research report on Friday, September 8th. Finally, Evercore ISI reissued an “outperform” rating and set a $19.00 target price on shares of Basic Energy Services in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Basic Energy Services presently has an average rating of “Hold” and an average target price of $26.92.
Shares of Basic Energy Services, Inc. (NYSE:BAS) opened at 18.34 on Friday. The stock’s market capitalization is $452.34 million. The company has a 50 day moving average price of $17.79 and a 200-day moving average price of $17.79. Basic Energy Services, Inc. has a 1-year low of $14.80 and a 1-year high of $44.75.
In other Basic Energy Services news, Director Samuel E. Langford bought 2,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were purchased at an average cost of $14.20 per share, for a total transaction of $28,400.00. Following the transaction, the director now directly owns 6,300 shares in the company, valued at $89,460. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Cody Bissett sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $19.50, for a total value of $48,750.00. Following the completion of the sale, the vice president now owns 3,401 shares in the company, valued at $66,319.50. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 29,000 shares of company stock worth $509,990 and sold 13,957 shares worth $246,688. 11.10% of the stock is owned by company insiders.
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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