Insider Selling: Thomas Monroe Patterson Sells 1,000 Shares of Basic Energy Services Stock (BAS)
Basic Energy Services (NYSE:BAS) CEO Thomas Monroe Patterson sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $23.73, for a total value of $23,730.00. Following the transaction, the chief executive officer now directly owns 298,621 shares in the company, valued at approximately $7,086,276. The transaction was disclosed in a document filed 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 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 given a hold rating and six have assigned a buy rating to the stock. Basic Energy Services has a consensus rating of “Hold” and a consensus price target of $28.77.
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 one year low of $11.06 and a one 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 announced its earnings results on Thursday, July 24th. The company reported $0.13 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.09 by $0.04. On average, analysts predict that Basic Energy Services will post $0.54 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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