Basic Energy Services, Inc. (NYSE:BAS) was the target of some unusual options trading activity on Monday. Investors purchased 1,000 put options on the company. This is an increase of 1,182% compared to the average daily volume of 78 put options.

In other Basic Energy Services news, insider Thomas Monroe Patterson sold 1,500 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $23.18, for a total transaction of $34,770.00. Following the completion of the sale, the insider now directly owns 41,273 shares of the company’s stock, valued at approximately $956,708.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Silver Point Capital L.P. sold 186,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $23.82, for a total transaction of $4,430,520.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,010,885 shares of company stock valued at $24,322,486. Insiders own 0.69% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc bought a new stake in Basic Energy Services in the second quarter worth $112,000. UBS Asset Management Americas Inc. bought a new stake in Basic Energy Services in the fourth quarter worth $221,000. Alambic Investment Management L.P. bought a new stake in Basic Energy Services in the fourth quarter worth $230,000. Two Sigma Investments LP bought a new stake in Basic Energy Services in the fourth quarter worth $239,000. Finally, Nationwide Fund Advisors bought a new stake in Basic Energy Services in the second quarter worth $245,000.

A number of research analysts recently weighed in on BAS shares. ValuEngine lowered shares of Basic Energy Services from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Seaport Global Securities raised shares of Basic Energy Services from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Credit Suisse Group raised their target price on shares of Basic Energy Services from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, November 6th. Piper Jaffray Companies reissued a “hold” rating and issued a $24.50 target price on shares of Basic Energy Services in a report on Friday, November 17th. Finally, Stephens started coverage on shares of Basic Energy Services in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $26.00 target price for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $28.44.

Basic Energy Services (BAS) traded up $0.82 during mid-day trading on Wednesday, hitting $18.17. 412,447 shares of the company were exchanged, compared to its average volume of 441,521. Basic Energy Services has a 1 year low of $14.03 and a 1 year high of $43.99. The company has a quick ratio of 1.42, a current ratio of 1.59 and a debt-to-equity ratio of 0.76.

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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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