Schwab Charles Investment Management Inc. bought a new stake in Basic Energy Services, Inc. (NYSE:BAS) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 43,756 shares of the oil and gas company’s stock, valued at approximately $1,090,000. Schwab Charles Investment Management Inc. owned approximately 0.17% of Basic Energy Services as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of BAS. Vanguard Group Inc. acquired a new stake in shares of Basic Energy Services in the 1st quarter valued at about $20,818,000. Credit Suisse AG acquired a new stake in shares of Basic Energy Services in the 1st quarter valued at about $10,121,000. FMR LLC acquired a new stake in shares of Basic Energy Services in the 1st quarter valued at about $8,824,000. Point72 Asset Management L.P. acquired a new stake in shares of Basic Energy Services in the 1st quarter valued at about $4,057,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Basic Energy Services by 1,052,325.0% in the 1st quarter. JPMorgan Chase & Co. now owns 42,097 shares of the oil and gas company’s stock valued at $1,404,000 after purchasing an additional 42,093 shares in the last quarter.
BAS has been the topic of a number of recent analyst reports. Piper Jaffray Companies restated a “hold” rating and issued a $26.50 target price on shares of Basic Energy Services in a research note on Friday, September 8th. Zacks Investment Research lowered shares of Basic Energy Services from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub lowered shares of Basic Energy Services from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Deutsche Bank AG assumed coverage on shares of Basic Energy Services in a research note on Tuesday, October 10th. They set a “hold” rating and a $22.00 price objective on the stock. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $21.00 price objective (down previously 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 assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.92.
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Shares of Basic Energy Services, Inc. (NYSE BAS) opened at 17.37 on Monday. The firm’s market cap is $428.41 million. Basic Energy Services, Inc. has a 1-year low of $14.03 and a 1-year high of $44.81. The company’s 50-day moving average is $17.64 and its 200 day moving average is $17.64.
In other news, VP Brett J. Taylor sold 7,857 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $18.07, for a total transaction of $141,975.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Monroe Patterson sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $18.83, for a total transaction of $28,245.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 29,000 shares of company stock valued at $509,990 and have sold 15,457 shares valued at $274,933. 11.10% of the stock is currently owned by company insiders.
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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