Renaissance Technologies LLC grew its position in shares of Basic Energy Services, Inc. (NYSE:BAS) by 85.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 274,600 shares of the oil and gas company’s stock after acquiring an additional 126,900 shares during the quarter. Renaissance Technologies LLC owned about 1.05% of Basic Energy Services worth $6,445,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its stake in Basic Energy Services by 1.4% during the fourth quarter. BlackRock Inc. now owns 1,305,573 shares of the oil and gas company’s stock worth $30,643,000 after acquiring an additional 18,550 shares during the last quarter. Royce & Associates LP increased its stake in Basic Energy Services by 20.3% during the fourth quarter. Royce & Associates LP now owns 1,045,272 shares of the oil and gas company’s stock worth $24,533,000 after acquiring an additional 176,257 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Basic Energy Services by 175.1% during the third quarter. Dimensional Fund Advisors LP now owns 447,815 shares of the oil and gas company’s stock worth $8,643,000 after acquiring an additional 285,009 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Basic Energy Services during the third quarter worth about $3,019,000. Finally, Bank of New York Mellon Corp increased its stake in Basic Energy Services by 25.5% during the fourth quarter. Bank of New York Mellon Corp now owns 154,097 shares of the oil and gas company’s stock worth $3,618,000 after acquiring an additional 31,263 shares during the last quarter.
BAS stock opened at $15.10 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.57 and a quick ratio of 1.38. Basic Energy Services, Inc. has a 1 year low of $12.72 and a 1 year high of $34.84.
Basic Energy Services (NYSE:BAS) last posted its earnings results on Monday, February 26th. The oil and gas company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.15). Basic Energy Services had a negative net margin of 11.19% and a negative return on equity of 16.12%. The company had revenue of $235.27 million during the quarter, compared to analyst estimates of $232.46 million. analysts predict that Basic Energy Services, Inc. will post -0.68 EPS for the current year.
In other news, insider Thomas Monroe Patterson sold 1,500 shares of the stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $16.81, for a total value of $25,215.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Silver Point Capital L.P. sold 186,000 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $23.82, for a total value of $4,430,520.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,900 shares of company stock valued at $7,674,404. Insiders own 11.10% of the company’s stock.
Several brokerages have commented on BAS. Stephens began coverage on Basic Energy Services in a research note on Tuesday, January 9th. They set an “equal weight” rating and a $26.00 price target for the company. Seaport Global Securities restated a “buy” rating and set a $40.00 price target on shares of Basic Energy Services in a research note on Thursday, January 18th. ValuEngine upgraded Basic Energy Services from a “strong sell” rating to a “sell” rating in a research note on Friday, February 23rd. Finally, Piper Jaffray set a $19.00 price target on Basic Energy Services and gave the stock a “hold” rating in a research note on Sunday, April 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $27.75.
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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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