Basic Energy Services, Inc. (BAS) Trading Up 5.5%
Basic Energy Services, Inc. (NYSE:BAS) shares were up 5.5% during trading on Friday . The stock traded as high as $20.88 and last traded at $20.11. Approximately 919,945 shares were traded during mid-day trading, an increase of 106% from the average daily volume of 446,036 shares. The stock had previously closed at $19.06.
Several research analysts have commented on BAS shares. Piper Jaffray Companies restated a “neutral” rating and issued a $26.50 target price (down previously from $33.00) on shares of Basic Energy Services in a research note on Wednesday, July 12th. BidaskClub upgraded Basic Energy Services from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Credit Suisse Group started coverage on Basic Energy Services in a research note on Friday, July 21st. They issued a “neutral” rating for the company. Zacks Investment Research upgraded Basic Energy Services from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Wednesday, July 26th. Finally, Seaport Global Securities restated a “neutral” rating on shares of Basic Energy Services in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Basic Energy Services presently has an average rating of “Hold” and an average price target of $26.92.
The company has a current ratio of 1.35, a quick ratio of 1.15 and a debt-to-equity ratio of 0.57.
In other Basic Energy Services news, Director Samuel E. Langford acquired 2,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were bought at an average cost of $14.20 per share, for a total transaction of $28,400.00. Following the completion of the acquisition, the director now directly owns 6,300 shares of the company’s stock, valued at $89,460. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy H. Day acquired 15,000 shares of the stock in a transaction dated Monday, August 7th. The stock was acquired at an average price of $18.69 per share, for a total transaction of $280,350.00. Following the completion of the acquisition, the director now directly owns 20,200 shares of the company’s stock, valued at $377,538. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 29,000 shares of company stock worth $509,990 and have sold 15,457 shares worth $274,933. Company insiders own 11.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BAS. Legal & General Group Plc acquired a new stake in shares of Basic Energy Services in the second quarter valued at approximately $112,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Basic Energy Services in the first quarter valued at approximately $215,000. Wells Fargo & Company MN raised its holdings 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 valued at $239,000 after purchasing an additional 5,702 shares during the last quarter. Nationwide Fund Advisors acquired a new stake in shares of Basic Energy Services in the second quarter valued at approximately $245,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Basic Energy Services by 7.6% in the second quarter. Russell Investments Group Ltd. now owns 12,149 shares of the oil and gas company’s stock valued at $303,000 after purchasing an additional 853 shares during the last quarter.
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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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