Basic Energy Services Target of Unusually High Options Trading (BAS)

Basic Energy Services, Inc. (NYSE:BAS) was the recipient of unusually large options trading activity on Monday. Stock investors acquired 1,000 put options on the stock. This represents an increase of approximately 1,182% compared to the average volume of 78 put options.

Basic Energy Services (NYSE:BAS) traded up $0.82 during midday trading on Wednesday, reaching $18.17. 412,447 shares of the company’s stock were exchanged, compared to its average volume of 441,521. Basic Energy Services has a 12 month low of $14.03 and a 12 month high of $43.99. The company has a current ratio of 1.59, a quick ratio of 1.42 and a debt-to-equity ratio of 0.76.

Several equities analysts have recently weighed in on BAS shares. Seaport Global Securities upgraded shares of Basic Energy Services from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Stephens started coverage on shares of Basic Energy Services in a research note on Tuesday, January 9th. They issued an “equal weight” rating and a $26.00 price objective on the stock. Credit Suisse Group raised their target price on shares of Basic Energy Services from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, November 6th. ValuEngine cut shares of Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Two equities research 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. The stock currently has an average rating of “Hold” and an average price target of $28.44.

In other news, CAO John Cody Bissett sold 5,500 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $23.40, for a total value of $128,700.00. Following the transaction, the chief accounting officer now owns 3,749 shares in the company, valued at approximately $87,726.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Monroe Patterson sold 1,500 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $23.18, for a total transaction of $34,770.00. Following the completion of the transaction, the insider now owns 41,273 shares in the company, valued at approximately $956,708.14. The disclosure for this sale can be found here. Insiders sold a total of 1,010,885 shares of company stock worth $24,322,486 in the last quarter. Company insiders own 0.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAS. Legal & General Group Plc bought a new stake in Basic Energy Services during the 2nd quarter worth approximately $112,000. UBS Asset Management Americas Inc. bought a new stake in Basic Energy Services during the 4th quarter worth approximately $221,000. Alambic Investment Management L.P. purchased a new stake in Basic Energy Services during the 4th quarter valued at approximately $230,000. Two Sigma Investments LP purchased a new stake in Basic Energy Services during the 4th quarter valued at approximately $239,000. Finally, Nationwide Fund Advisors purchased a new stake in Basic Energy Services during the 2nd quarter valued at approximately $245,000.

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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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