Basic Energy Services CEO Sells $54,680 in Stock (BAS)
Basic Energy Services (NYSE:BAS) CEO Thomas Monroe Patterson unloaded 2,000 shares of Basic Energy Services stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $27.34, for a total transaction of $54,680.00. Following the sale, the chief executive officer now directly owns 301,621 shares in the company, valued at approximately $8,246,318. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Basic Energy Services (NYSE:BAS) traded up 1.01% during mid-day trading on Tuesday, hitting $26.11. 1,191,266 shares of the company’s stock traded hands. Basic Energy Services has a 52 week low of $11.06 and a 52 week high of $29.61. The stock’s 50-day moving average is $26.51 and its 200-day moving average is $21.16. The company’s market cap is $1.068 billion.
Basic Energy Services (NYSE:BAS) last posted its quarterly earnings results on Thursday, April 24th. The company reported ($0.05) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.09) by $0.04. The company had revenue of $336.76 million for the quarter, compared to the consensus estimate of $328.04 million. During the same quarter last year, the company posted ($0.21) earnings per share. Basic Energy Services’s revenue was up 10.6% compared to the same quarter last year. Analysts expect that Basic Energy Services will post $0.41 EPS for the current fiscal year.
A number of research firms have recently commented on BAS. Analysts at Capital One Financial Corp. upgraded shares of Basic Energy Services from an “equal weight” rating to an “overweight” rating in a research note on Friday. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Basic Energy Services in a research note on Tuesday, April 29th. They now have a $34.00 price target on the stock, up previously from $32.00. Finally, analysts at SunTrust raised their price target on shares of Basic Energy Services from $30.00 to $35.00 in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $28.67.
Basic Energy Services, Inc, provides a range of well site services to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling.
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