Basic Energy Services Inc (NYSE:BAS) major shareholder Ascribe Capital Llc bought 5,174 shares of the company’s stock in a transaction dated Friday, November 2nd. The stock was purchased at an average price of $7.41 per share, for a total transaction of $38,339.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Ascribe Capital Llc also recently made the following trade(s):
- On Tuesday, October 30th, Ascribe Capital Llc bought 54,328 shares of Basic Energy Services stock. The stock was purchased at an average price of $7.42 per share, for a total transaction of $403,113.76.
Shares of NYSE BAS traded up $0.19 during midday trading on Wednesday, hitting $8.20. The stock had a trading volume of 1,202 shares, compared to its average volume of 372,288. The company has a market cap of $223.68 million, a PE ratio of -3.53 and a beta of 2.56. Basic Energy Services Inc has a 52 week low of $7.20 and a 52 week high of $26.75. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.30 and a current ratio of 1.49.
Several research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $26.24.
Hedge funds and other institutional investors have recently modified their holdings of the company. Dupont Capital Management Corp lifted its position in Basic Energy Services by 2.4% during the second quarter. Dupont Capital Management Corp now owns 210,050 shares of the oil and gas company’s stock valued at $2,334,000 after purchasing an additional 5,000 shares during the period. NumerixS Investment Technologies Inc lifted its position in Basic Energy Services by 244.4% during the second quarter. NumerixS Investment Technologies Inc now owns 9,300 shares of the oil and gas company’s stock valued at $105,000 after purchasing an additional 6,600 shares during the period. Guggenheim Capital LLC lifted its position in Basic Energy Services by 86.6% during the first quarter. Guggenheim Capital LLC now owns 23,383 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 10,854 shares during the period. Penn Capital Management Co. Inc. bought a new position in Basic Energy Services during the second quarter valued at approximately $131,000. Finally, OppenheimerFunds Inc. lifted its position in Basic Energy Services by 112.5% during the second quarter. OppenheimerFunds Inc. now owns 23,800 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 12,600 shares during the period. Hedge funds and other institutional investors own 98.63% of the company’s stock.
Basic Energy Services Company Profile
Basic Energy Services, Inc provides well site services to oil and natural gas drilling and producing companies in the United States. Its Completion and Remedial Services segment offers pumping services, such as cementing, acidizing, fracturing, nitrogen, and pressure testing; rental and fishing tools; coiled tubing; snubbing services; thru-tubing; cased-hole wireline services; and underbalanced drilling in low pressure and fluid sensitive reservoirs.
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