Basic Energy Services Inc (NYSE:BAS) major shareholder Ascribe Capital Llc acquired 15,900 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was purchased at an average cost of $7.43 per share, with a total value of $118,137.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Ascribe Capital Llc also recently made the following trade(s):

  • On Tuesday, November 13th, Ascribe Capital Llc acquired 80,900 shares of Basic Energy Services stock. The stock was purchased at an average cost of $7.14 per share, with a total value of $577,626.00.
  • On Friday, November 2nd, Ascribe Capital Llc acquired 5,174 shares of Basic Energy Services stock. The stock was purchased at an average cost of $7.41 per share, with a total value of $38,339.34.
  • On Tuesday, October 30th, Ascribe Capital Llc acquired 54,328 shares of Basic Energy Services stock. The stock was purchased at an average cost of $7.42 per share, with a total value of $403,113.76.

Shares of NYSE:BAS traded down $0.15 during trading on Tuesday, reaching $6.96. 243,860 shares of the company were exchanged, compared to its average volume of 480,971. The firm has a market cap of $200.27 million, a PE ratio of -2.99 and a beta of 2.56. Basic Energy Services Inc has a 12-month low of $6.92 and a 12-month high of $26.75. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.28 and a current ratio of 1.45.

BAS has been the subject of several analyst reports. ValuEngine downgraded shares of Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised shares of Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $26.24.

Several large investors have recently modified their holdings of the company. Dupont Capital Management Corp increased its position in shares of Basic Energy Services by 2.4% during the second quarter. Dupont Capital Management Corp now owns 210,050 shares of the oil and gas company’s stock worth $2,334,000 after acquiring an additional 5,000 shares during the period. NumerixS Investment Technologies Inc increased its position in shares of Basic Energy Services by 244.4% during the second quarter. NumerixS Investment Technologies Inc now owns 9,300 shares of the oil and gas company’s stock worth $105,000 after acquiring an additional 6,600 shares during the period. Guggenheim Capital LLC increased its position in shares of Basic Energy Services by 86.6% during the first quarter. Guggenheim Capital LLC now owns 23,383 shares of the oil and gas company’s stock worth $337,000 after acquiring an additional 10,854 shares during the period. Penn Capital Management Co. Inc. purchased a new position in shares of Basic Energy Services during the second quarter worth approximately $131,000. Finally, OppenheimerFunds Inc. increased its position in shares of Basic Energy Services by 112.5% during the second quarter. OppenheimerFunds Inc. now owns 23,800 shares of the oil and gas company’s stock worth $264,000 after acquiring an additional 12,600 shares during the period. 98.04% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “Basic Energy Services Inc (BAS) Major Shareholder Ascribe Capital Llc Buys 15,900 Shares” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece of content on another site, it was illegally stolen and republished in violation of United States and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.thecerbatgem.com/2018/11/13/basic-energy-services-inc-bas-major-shareholder-ascribe-capital-llc-buys-15900-shares.html.

About Basic Energy Services

Basic Energy Services, Inc provides well site services to oil and natural gas drilling and producing companies in the United States. Its Completion and Remedial Services segment offers pumping services, such as cementing, acidizing, fracturing, nitrogen, and pressure testing; rental and fishing tools; coiled tubing; snubbing services; thru-tubing; cased-hole wireline services; and underbalanced drilling in low pressure and fluid sensitive reservoirs.

Featured Article: How is the discount rate different from the Federal Funds rate?

Insider Buying and Selling by Quarter for Basic Energy Services (NYSE:BAS)

Receive News & Ratings for Basic Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Basic Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.