HBK Investments L P Has $7 Million Stake in Basic Energy Services, Inc. (NYSE:BAS)

HBK Investments L P grew its holdings in Basic Energy Services, Inc. (NYSE:BAS) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 298,300 shares of the oil and gas company’s stock after acquiring an additional 35,300 shares during the period. HBK Investments L P owned about 1.15% of Basic Energy Services worth $7,001,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BAS. UBS Asset Management Americas Inc. acquired a new position in Basic Energy Services during the 4th quarter worth $221,000. Alambic Investment Management L.P. bought a new position in shares of Basic Energy Services in the 4th quarter worth about $230,000. Two Sigma Investments LP bought a new position in shares of Basic Energy Services in the 4th quarter worth about $239,000. Parametric Portfolio Associates LLC lifted its position in shares of Basic Energy Services by 107.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,350 shares of the oil and gas company’s stock worth $332,000 after buying an additional 6,905 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Basic Energy Services in the 3rd quarter worth about $264,000.

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In other news, insider Thomas Monroe Patterson sold 1,500 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $16.81, for a total value of $25,215.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Silver Point Capital L.P. sold 186,000 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $23.82, for a total transaction of $4,430,520.00. The disclosure for this sale can be found here. Insiders sold 432,810 shares of company stock valued at $10,501,971 over the last quarter. Corporate insiders own 11.10% of the company’s stock.

Several analysts recently weighed in on BAS shares. Seaport Global Securities reiterated a “buy” rating and issued a $40.00 price objective on shares of Basic Energy Services in a research report on Thursday, January 18th. ValuEngine upgraded shares of Basic Energy Services from a “strong sell” rating to a “sell” rating in a research report on Friday, February 23rd. Stephens began coverage on shares of Basic Energy Services in a research report on Tuesday, January 9th. They set an “equal weight” rating and a $26.00 price target on the stock. Finally, Piper Jaffray set a $19.00 price target on shares of Basic Energy Services and gave the stock a “hold” rating in a research report on Sunday, April 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $27.75.

Basic Energy Services stock opened at $13.68 on Friday. Basic Energy Services, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $35.84. The company has a market capitalization of $351.86, a PE ratio of -5.87 and a beta of 2.68. The company has a current ratio of 1.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.77.

Basic Energy Services (NYSE:BAS) last announced its quarterly earnings data on Monday, February 26th. The oil and gas company reported ($0.55) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.15). The company had revenue of $235.27 million for the quarter, compared to analysts’ expectations of $232.46 million. Basic Energy Services had a negative net margin of 11.19% and a negative return on equity of 16.12%. equities research analysts predict that Basic Energy Services, Inc. will post -0.68 earnings per share for the current fiscal year.

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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.

Institutional Ownership by Quarter for Basic Energy Services (NYSE:BAS)

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