Basic Energy Services, Inc. (NYSE:BAS) shares dropped 5.4% during mid-day trading on Thursday . The company traded as low as $16.03 and last traded at $16.44. Approximately 631,880 shares changed hands during trading, an increase of 35% from the average daily volume of 469,025 shares. The stock had previously closed at $17.38.
BAS has been the subject of a number of analyst reports. Seaport Global Securities reissued a “buy” rating and set a $40.00 target price on shares of Basic Energy Services in a research note on Thursday, January 18th. Stephens initiated coverage on shares of Basic Energy Services in a research note on Tuesday, January 9th. They set an “equal weight” rating and a $26.00 target price for the company. ValuEngine lowered shares of Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $24.50 target price on shares of Basic Energy Services in a research note on Friday, November 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $28.44.
The stock has a market capitalization of $459.11 and a PE ratio of -4.42. The company has a quick ratio of 1.38, a current ratio of 1.57 and a debt-to-equity ratio of 0.77.
Basic Energy Services (NYSE:BAS) last released its quarterly earnings results on Monday, February 26th. The oil and gas company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.15). Basic Energy Services had a negative return on equity of 16.12% and a negative net margin of 11.19%. The company had revenue of $235.27 million for the quarter, compared to the consensus estimate of $232.46 million. sell-side analysts forecast that Basic Energy Services, Inc. will post -0.66 earnings per share for the current fiscal year.
In other Basic Energy Services news, VP William Timothy Dame sold 3,859 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $24.19, for a total transaction of $93,349.21. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Monroe Patterson sold 1,500 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $18.17, for a total transaction of $27,255.00. Following the sale, the chief executive officer now owns 152,178 shares in the company, valued at $2,765,074.26. The disclosure for this sale can be found here. Insiders have sold a total of 1,009,885 shares of company stock worth $24,289,042 over the last 90 days. 11.10% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. bought a new stake in shares of Basic Energy Services during the 4th quarter worth about $221,000. MetLife Investment Advisors LLC bought a new stake in shares of Basic Energy Services in the 4th quarter worth approximately $221,000. Alambic Investment Management L.P. bought a new stake in shares of Basic Energy Services in the 4th quarter worth approximately $230,000. Two Sigma Investments LP bought a new stake in shares of Basic Energy Services in the 4th quarter worth approximately $239,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Basic Energy Services in the 3rd quarter worth approximately $264,000.
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Basic Energy Services Company Profile
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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