Insider Selling: Basic Energy Services Director Sells 20,000 Shares of Stock (BAS)
Basic Energy Services (NYSE:BAS) Director Kenneth V. Huseman sold 20,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $23.85, for a total value of $477,000.00. Following the completion of the sale, the director now directly owns 335,305 shares of the company’s stock, valued at approximately $7,997,024. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
BAS has been the subject of a number of recent research reports. Analysts at Macquarie reiterated a “neutral” rating on shares of Basic Energy Services in a research note on Monday, July 28th. They now have a $24.00 price target on the stock, down previously from $25.00. Separately, analysts at Global Hunter Securities upgraded shares of Basic Energy Services from a “neutral” rating to an “accumulate” rating in a research note on Monday, July 28th. They now have a $30.00 price target on the stock, down previously from $31.00. Finally, analysts at Raymond James upgraded shares of Basic Energy Services from a “market perform” rating to an “outperform” rating in a research note on Monday, July 28th. They now have a $32.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Basic Energy Services currently has an average rating of “Hold” and a consensus target price of $28.77.
Shares of Basic Energy Services (NYSE:BAS) traded up 3.12% on Monday, hitting $24.77. 1,209,377 shares of the company’s stock traded hands. Basic Energy Services has a 1-year low of $11.06 and a 1-year high of $29.84. The stock has a 50-day moving average of $27.31 and a 200-day moving average of $24.69. The company’s market cap is $1.015 billion.
Basic Energy Services (NYSE:BAS) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. Analysts expect that Basic Energy Services will post $0.54 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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