Basic Energy Services (BAS) Reaches New 12-Month Low at $6.23

Basic Energy Services Inc (NYSE:BAS) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $6.23 and last traded at $6.27, with a volume of 8469 shares. The stock had previously closed at $6.27.

A number of equities research analysts recently issued reports on the company. ValuEngine downgraded Basic Energy Services from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research raised Basic Energy Services from a “sell” rating to a “hold” rating in a research report on Tuesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Basic Energy Services currently has a consensus rating of “Hold” and a consensus price target of $26.24.

The stock has a market capitalization of $166.54 million, a PE ratio of -2.69 and a beta of 2.56. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.45 and a quick ratio of 1.28.

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

In other Basic Energy Services news, major shareholder Ascribe Capital Llc bought 5,174 shares of Basic Energy Services stock in a transaction on Friday, November 2nd. The shares were purchased at an average price of $7.41 per share, with a total value of $38,339.34. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Timothy H. Day bought 30,000 shares of Basic Energy Services stock in a transaction on Tuesday, November 20th. The stock was acquired at an average cost of $6.91 per share, for a total transaction of $207,300.00. Following the acquisition, the director now owns 44,522 shares in the company, valued at approximately $307,647.02. The disclosure for this purchase can be found here. Insiders have purchased 252,202 shares of company stock worth $1,801,090 in the last three months. 1.95% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of BAS. Guggenheim Capital LLC boosted its holdings in shares of Basic Energy Services by 86.6% in the 1st 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 in the last quarter. Penn Capital Management Co. Inc. acquired a new stake in shares of Basic Energy Services in the 2nd quarter valued at $131,000. Dupont Capital Management Corp boosted its holdings in shares of Basic Energy Services by 2.4% in the 2nd 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 in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Basic Energy Services in the 2nd quarter valued at $433,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Basic Energy Services in the 2nd quarter valued at $220,000. 95.93% of the stock is currently owned by hedge funds and other institutional investors.

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About Basic Energy Services (NYSE:BAS)

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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