Basic Energy Services, Inc. (BAS) Major Shareholder Sells $1,045,642.00 in Stock

Basic Energy Services, Inc. (NYSE:BAS) major shareholder Ascribe Capital Llc sold 39,910 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $26.20, for a total value of $1,045,642.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Basic Energy Services, Inc. (BAS) traded down $0.78 during midday trading on Wednesday, reaching $25.42. The company had a trading volume of 265,637 shares, compared to its average volume of 300,629. The stock has a market cap of $681.94 and a price-to-earnings ratio of -3.93. Basic Energy Services, Inc. has a twelve month low of $14.03 and a twelve month high of $44.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 1.42.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new stake in Basic Energy Services in the 2nd quarter valued at $112,000. Nationwide Fund Advisors purchased a new stake in shares of Basic Energy Services during the 2nd quarter valued at $245,000. Russell Investments Group Ltd. increased its position in shares of Basic Energy Services by 7.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 12,149 shares of the oil and gas company’s stock valued at $303,000 after purchasing an additional 853 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Basic Energy Services by 107.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,350 shares of the oil and gas company’s stock valued at $332,000 after purchasing an additional 6,905 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Basic Energy Services during the 3rd quarter valued at $264,000.

Several analysts recently commented on the company. Stephens began coverage on Basic Energy Services in a report on Tuesday. They issued an “equal weight” rating and a $26.00 target price on the stock. Zacks Investment Research upgraded Basic Energy Services from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Credit Suisse Group restated a “neutral” rating and set a $21.00 price target (down from $30.00) on shares of Basic Energy Services in a report on Monday, September 25th. Piper Jaffray Companies restated a “hold” rating and set a $24.50 price target on shares of Basic Energy Services in a report on Friday, November 17th. Finally, Deutsche Bank started coverage on Basic Energy Services in a report on Tuesday, October 10th. They set a “hold” rating and a $22.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.79.

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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.

Insider Buying and Selling by Quarter for Basic Energy Services (NYSE:BAS)

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