Nationwide Fund Advisors purchased a new stake in shares of Basic Energy Services, Inc. (NYSE:BAS) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,843 shares of the oil and gas company’s stock, valued at approximately $245,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. GRT Capital Partners L.L.C. boosted its stake in Basic Energy Services by 49.6% during the 2nd quarter. GRT Capital Partners L.L.C. now owns 53,046 shares of the oil and gas company’s stock valued at $1,321,000 after purchasing an additional 17,596 shares during the last quarter. TIAA CREF Investment Management LLC acquired a new position in Basic Energy Services during the 2nd quarter valued at about $1,358,000. Teachers Advisors LLC bought a new position in shares of Basic Energy Services during the 2nd quarter worth approximately $767,000. Alliancebernstein L.P. bought a new position in shares of Basic Energy Services during the 2nd quarter worth approximately $750,000. Finally, Wells Fargo & Company MN lifted its position in shares of Basic Energy Services by 184.8% during the 2nd quarter. Wells Fargo & Company MN now owns 20,372 shares of the oil and gas company’s stock worth $507,000 after buying an additional 13,220 shares in the last quarter.

In related news, VP John Cody Bissett sold 2,500 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 3,401 shares in the company, valued at $66,319.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Samuel E. Langford bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was bought at an average price of $14.20 per share, with a total value of $28,400.00. Following the completion of the transaction, the director now directly owns 6,300 shares of the company’s stock, valued at approximately $89,460. The disclosure for this purchase can be found here. Insiders sold 888,807 shares of company stock valued at $20,167,925 over the last quarter. 0.69% of the stock is owned by company insiders.

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Basic Energy Services, Inc. (NYSE BAS) opened at $21.89 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.42 and a debt-to-equity ratio of 0.76. Basic Energy Services, Inc. has a 1 year low of $14.03 and a 1 year high of $44.81.

Several research firms have commented on BAS. BidaskClub raised shares of Basic Energy Services from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of Basic Energy Services from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Wednesday, July 26th. Credit Suisse Group assumed coverage on shares of Basic Energy Services in a report on Friday, July 21st. They issued a “neutral” rating on the stock. Seaport Global Securities reaffirmed a “neutral” rating on shares of Basic Energy Services in a report on Friday, July 28th. Finally, Deutsche Bank AG assumed coverage on shares of Basic Energy Services in a report on Tuesday, October 10th. They issued a “hold” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Basic Energy Services presently has a consensus rating of “Hold” and an average target price of $27.25.

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

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