Basic Energy Services CAO Sells $29,220 in Stock (BAS)
Basic Energy Services (NYSE:BAS) CAO John Cody Bissett sold 1,000 shares of the stock on the open market in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $29.22, for a total value of $29,220.00. Following the sale, the chief accounting officer now directly owns 48,025 shares in the company, valued at approximately $1,403,291. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Basic Energy Services (NYSE:BAS) traded down 1.70% on Thursday, hitting $28.96. 221,283 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 $29.84. The stock has a 50-day moving average of $26.66 and a 200-day moving average of $22.99. The company’s market cap is $1.185 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 $0.42 EPS for the current fiscal year.
A number of analysts have recently weighed in on BAS shares. Analysts at Macquarie initiated coverage on shares of Basic Energy Services in a research note on Wednesday, June 4th. They set a “neutral” rating and a $25.00 price target on the stock. Separately, 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, May 30th. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Basic Energy Services presently has a consensus rating of “Hold” and an average price target of $28.30.
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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