Cramer Rosenthal Mcglynn LLC raised its stake in Basic Energy Services, Inc. (NYSE:BAS) by 22.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,022,597 shares of the oil and gas company’s stock after purchasing an additional 189,017 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned approximately 4.15% of Basic Energy Services worth $25,463,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc bought a new position in Basic Energy Services in the second quarter valued at approximately $112,000. Parametric Portfolio Associates LLC bought a new position in Basic Energy Services in the first quarter valued at approximately $215,000. Wells Fargo & Company MN grew its stake in 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Basic Energy Services in the first quarter valued at approximately $323,000. Finally, Nationwide Fund Advisors bought a new position in Basic Energy Services in the second quarter valued at approximately $245,000.

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In other news, VP John Cody Bissett sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $19.50, for a total value of $48,750.00. Following the completion of the transaction, the vice president now directly owns 3,401 shares of the company’s stock, valued at $66,319.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Brett J. Taylor sold 7,857 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $18.07, for a total value of $141,975.99. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 29,000 shares of company stock valued at $509,990 and sold 13,657 shares valued at $241,075. Corporate insiders own 11.10% of the company’s stock.

Basic Energy Services, Inc. (NYSE:BAS) traded up 2.76% during mid-day trading on Thursday, hitting $20.10. The stock had a trading volume of 48,040 shares. The stock’s market cap is $495.75 million. Basic Energy Services, Inc. has a 1-year low of $14.80 and a 1-year high of $44.75. The firm’s 50-day moving average price is $17.42 and its 200-day moving average price is $17.42.

A number of research firms have weighed in on BAS. Zacks Investment Research upgraded Basic Energy Services from a “sell” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Monday. BidaskClub downgraded Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Seaport Global Securities restated a “neutral” rating on shares of Basic Energy Services in a research note on Friday, July 28th. Evercore ISI restated an “outperform” rating and issued a $19.00 price target on shares of Basic Energy Services in a research note on Tuesday, September 5th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $21.00 price target (down from $30.00) on shares of Basic Energy Services in a research note on Monday, September 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Basic Energy Services has an average rating of “Hold” and a consensus target price of $23.58.

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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Institutional Ownership by Quarter for Basic Energy Services (NYSE:BAS)

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