Investors Purchase High Volume of Call Options on Basic Energy Services (BAS)

Basic Energy Services, Inc. (NYSE:BAS) was the recipient of unusually large options trading on Friday. Investors acquired 2,522 call options on the company. This is an increase of approximately Infinity compared to the typical daily volume of 0 call options.

In other news, VP John Cody Bissett sold 2,500 shares of the business’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 transaction of $48,750.00. Following the completion of the sale, the vice president now owns 3,401 shares in the company, valued at $66,319.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Brett J. Taylor sold 7,857 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was 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. In the last three months, insiders have sold 15,457 shares of company stock worth $274,933. Company insiders own 11.10% of the company’s stock.

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Basic Energy Services by 1,052,325.0% during the first quarter. JPMorgan Chase & Co. now owns 42,097 shares of the oil and gas company’s stock worth $1,404,000 after buying an additional 42,093 shares in the last quarter. Dupont Capital Management Corp increased its holdings in shares of Basic Energy Services by 92.8% during the second quarter. Dupont Capital Management Corp now owns 63,850 shares of the oil and gas company’s stock worth $1,590,000 after buying an additional 30,739 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Basic Energy Services during the second quarter worth $25,018,000. UBS Group AG increased its holdings in shares of Basic Energy Services by 1,092.8% during the first quarter. UBS Group AG now owns 14,612 shares of the oil and gas company’s stock worth $487,000 after buying an additional 13,387 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Basic Energy Services by 393.2% during the first quarter. Wells Fargo & Company MN now owns 7,152 shares of the oil and gas company’s stock worth $239,000 after buying an additional 5,702 shares in the last quarter.

Shares of Basic Energy Services (NYSE BAS) opened at $20.11 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.35 and a quick ratio of 1.15. Basic Energy Services has a 12 month low of $14.03 and a 12 month high of $44.81.

A number of equities research analysts have recently issued reports on the company. BidaskClub upgraded Basic Energy Services from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded Basic Energy Services from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Wednesday, July 26th. Credit Suisse Group assumed coverage on Basic Energy Services in a research note on Friday, July 21st. They issued a “neutral” rating for the company. Piper Jaffray Companies reiterated a “neutral” rating and issued a $26.50 price target (down from $33.00) on shares of Basic Energy Services in a research note on Wednesday, July 12th. Finally, Seaport Global Securities reiterated 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 assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $26.92.

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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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