Insider Selling: Robert Fullarton Fulton Sells 7,857 Shares of Basic Energy Services Stock (BAS)
Basic Energy Services (NYSE:BAS) Director Robert Fullarton Fulton sold 7,857 shares of the stock on the open market in a transaction dated Monday, June 2nd. The stock was sold at an average price of $25.61, for a total value of $201,217.77. Following the sale, the director now directly owns 92,043 shares in the company, valued at approximately $2,357,221. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Basic Energy Services presently has an average rating of “Hold” and an average target price of $28.67.
Shares of Basic Energy Services (NYSE:BAS) traded up 1.01% on Tuesday, hitting $26.11. The stock had a trading volume of 1,191,266 shares. Basic Energy Services has a 52-week low of $11.06 and a 52-week high of $29.61. The stock has a 50-day moving average of $26.51 and a 200-day moving average of $21.16. The company’s market cap is $1.068 billion.
Basic Energy Services (NYSE:BAS) last released its earnings data 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. Analysts expect that Basic Energy Services will post $0.41 EPS 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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