Ascribe Capital Llc Purchases 50,900 Shares of Basic Energy Services Inc (BAS) Stock

Basic Energy Services Inc (NYSE:BAS) major shareholder Ascribe Capital Llc acquired 50,900 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The shares were purchased at an average cost of $6.86 per share, for a total transaction of $349,174.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Ascribe Capital Llc also recently made the following trade(s):

  • On Friday, November 9th, Ascribe Capital Llc purchased 15,900 shares of Basic Energy Services stock. The stock was bought at an average cost of $7.43 per share, for a total transaction of $118,137.00.
  • On Tuesday, November 13th, Ascribe Capital Llc purchased 80,900 shares of Basic Energy Services stock. The stock was bought at an average cost of $7.14 per share, for a total transaction of $577,626.00.
  • On Friday, November 2nd, Ascribe Capital Llc purchased 5,174 shares of Basic Energy Services stock. The stock was bought at an average cost of $7.41 per share, for a total transaction of $38,339.34.
  • On Tuesday, October 30th, Ascribe Capital Llc purchased 54,328 shares of Basic Energy Services stock. The stock was bought at an average cost of $7.42 per share, for a total transaction of $403,113.76.

BAS stock traded down $0.69 during trading on Friday, hitting $6.27. The company had a trading volume of 278,000 shares, compared to its average volume of 475,088. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.45 and a quick ratio of 1.28. The firm has a market cap of $184.87 million, a price-to-earnings ratio of -2.69 and a beta of 2.56. Basic Energy Services Inc has a fifty-two week low of $6.25 and a fifty-two week high of $26.75.

Basic Energy Services (NYSE:BAS) last announced its quarterly earnings results on Thursday, November 1st. The oil and gas company reported ($0.94) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.72) by ($0.22). The company had revenue of $246.33 million during the quarter, compared to analyst estimates of $255.00 million. Basic Energy Services had a negative net margin of 12.19% and a negative return on equity of 28.29%. On average, research analysts anticipate that Basic Energy Services Inc will post -3.51 earnings per share for the current year.

BAS has been the topic of several recent analyst reports. Zacks Investment Research raised Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. ValuEngine raised Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Basic Energy Services has an average rating of “Hold” and a consensus target price of $26.24.

Hedge funds have recently made changes to their positions in the stock. Wolverine Asset Management LLC acquired a new stake in Basic Energy Services in the 2nd quarter valued at $317,000. NumerixS Investment Technologies Inc boosted its stake in Basic Energy Services by 244.4% in the second quarter. NumerixS Investment Technologies Inc now owns 9,300 shares of the oil and gas company’s stock worth $105,000 after purchasing an additional 6,600 shares in the last quarter. Royce & Associates LP boosted its stake in Basic Energy Services by 11.8% in the second quarter. Royce & Associates LP now owns 1,402,661 shares of the oil and gas company’s stock worth $15,584,000 after purchasing an additional 148,600 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Basic Energy Services by 28.4% in the second quarter. Russell Investments Group Ltd. now owns 83,183 shares of the oil and gas company’s stock worth $925,000 after purchasing an additional 18,422 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its stake in Basic Energy Services by 190.1% in the third quarter. Engineers Gate Manager LP now owns 54,367 shares of the oil and gas company’s stock worth $543,000 after purchasing an additional 35,624 shares in the last quarter. 95.93% of the stock is currently owned by institutional investors and hedge funds.

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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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Insider Buying and Selling by Quarter for Basic Energy Services (NYSE:BAS)

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