Insider Selling: Basic Energy Services CAO Sells 1,000 Shares of Stock (BAS)
Basic Energy Services (NYSE:BAS) CAO John Cody Bissett sold 1,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $26.28, for a total transaction of $26,280.00. Following the completion of the sale, the chief accounting officer now directly owns 49,205 shares in the company, valued at approximately $1,293,107. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
BAS has been the subject of a number of recent research reports. 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 equities 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. Basic Energy Services currently has a consensus rating of “Hold” and an average target price of $28.67.
Shares of Basic Energy Services (NYSE:BAS) traded up 1.01% during mid-day trading on Tuesday, hitting $26.11. The stock had a trading volume of 1,191,266 shares. Basic Energy Services has a one year low of $11.06 and a one year 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 announced its earnings results on Thursday, April 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted ($0.21) earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that Basic Energy Services will post $0.41 earnings per share for the current fiscal year.
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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