Basic Energy Services, Inc. (NYSE:BAS) major shareholder Ascribe Capital Llc sold 24,000 shares of the company’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $26.17, for a total transaction of $628,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Ascribe Capital Llc also recently made the following trade(s):
- On Tuesday, January 9th, Ascribe Capital Llc sold 39,910 shares of Basic Energy Services stock. The shares were sold at an average price of $26.20, for a total transaction of $1,045,642.00.
Basic Energy Services, Inc. (NYSE:BAS) opened at $23.95 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.42 and a current ratio of 1.59. The stock has a market cap of $620.77, a P/E ratio of -3.67 and a beta of 2.98. Basic Energy Services, Inc. has a one year low of $14.03 and a one year high of $44.81.
Basic Energy Services (NYSE:BAS) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.19. Basic Energy Services had a negative net margin of 29.23% and a negative return on equity of 24.91%. research analysts forecast that Basic Energy Services, Inc. will post -1.95 EPS for the current fiscal year.
Several brokerages have issued reports on BAS. Seaport Global Securities raised shares of Basic Energy Services from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Credit Suisse Group upped their price target on shares of Basic Energy Services from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, November 6th. Stephens began coverage on shares of Basic Energy Services in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $26.00 price target on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $24.50 price target on shares of Basic Energy Services in a report on Friday, November 17th. Finally, Zacks Investment Research raised shares of Basic Energy Services from a “sell” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $28.44.
Several institutional investors and hedge funds have recently made changes to their positions in BAS. Russell Investments Group Ltd. lifted its stake in shares of Basic Energy Services by 7.6% during the second quarter. Russell Investments Group Ltd. now owns 12,149 shares of the oil and gas company’s stock valued at $303,000 after buying an additional 853 shares during the period. Schwab Charles Investment Management Inc. purchased a new position in shares of Basic Energy Services during the second quarter valued at approximately $1,090,000. Rhumbline Advisers purchased a new position in shares of Basic Energy Services during the second quarter valued at approximately $534,000. Bank of New York Mellon Corp lifted its stake in shares of Basic Energy Services by 333.6% during the second quarter. Bank of New York Mellon Corp now owns 120,983 shares of the oil and gas company’s stock valued at $3,012,000 after buying an additional 93,082 shares during the period. Finally, Legal & General Group Plc purchased a new position in shares of Basic Energy Services during the second quarter valued at approximately $112,000.
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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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