Basic Energy Services, Inc. (BAS) Stock Price Up 5.5%

Shares of Basic Energy Services, Inc. (NYSE:BAS) rose 5.5% during trading on Friday . The stock traded as high as $20.88 and last traded at $20.11. Approximately 919,945 shares traded hands 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.

BAS has been the subject of several recent analyst reports. BidaskClub raised Basic Energy Services from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research raised Basic Energy Services from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Wednesday, July 26th. Piper Jaffray Companies reissued a “hold” rating and issued a $26.50 price target on shares of Basic Energy Services in a report on Friday, September 8th. Deutsche Bank AG initiated coverage on Basic Energy Services in a report on Tuesday, October 10th. They issued a “hold” rating and a $22.00 price target for the company. Finally, Credit Suisse Group assumed coverage on Basic Energy Services in a report on Friday, July 21st. They issued a “neutral” rating for the company. 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. The stock currently has an average rating of “Hold” and a consensus target price of $26.92.

The company has a quick ratio of 1.15, a current ratio of 1.35 and a debt-to-equity ratio of 0.57.

In other news, insider Thomas Monroe Patterson sold 1,500 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $18.83, for a total value of $28,245.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy H. Day purchased 15,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was bought at an average cost of $18.69 per share, with a total value of $280,350.00. Following the completion of the acquisition, the director now 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 three months, insiders bought 29,000 shares of company stock valued at $509,990 and sold 15,457 shares valued at $274,933. Insiders own 11.10% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Key Group Holdings Cayman LTD. purchased a new stake in shares of Basic Energy Services in the second quarter valued at $40,639,000. Vanguard Group Inc. grew its position in shares of Basic Energy Services by 74.5% in the second quarter. Vanguard Group Inc. now owns 1,088,728 shares of the oil and gas company’s stock valued at $27,109,000 after purchasing an additional 464,691 shares during the period. Cramer Rosenthal Mcglynn LLC grew its position in shares of Basic Energy Services by 22.7% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,022,597 shares of the oil and gas company’s stock valued at $25,463,000 after purchasing an additional 189,017 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Basic Energy Services in the second quarter valued at $25,018,000. Finally, Royce & Associates LP grew its position in shares of Basic Energy Services by 85.1% in the second quarter. Royce & Associates LP now owns 663,510 shares of the oil and gas company’s stock valued at $16,521,000 after purchasing an additional 305,000 shares during the period.

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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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