Basic Energy Services Shares Down 4% After Insider Selling (BAS)
Basic Energy Services (NYSE:BAS)’s share price dropped 4% during trading on Tuesday following insider selling activity, Analyst Ratings Network reports. The stock traded as low as $23.61 and last traded at $23.79, with a volume of 687,169 shares changing hands. The stock had previously closed at $24.77.
Specifically, Director Kenneth V. Huseman sold 20,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $23.85, for a total value of $477,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on BAS shares. 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 investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Basic Energy Services presently has an average rating of “Hold” and an average target price of $28.77.
The stock’s 50-day moving average is $27.26 and its 200-day moving average is $24.87. The company’s market cap is $975.6 million.
Basic Energy Services (NYSE:BAS) last released its earnings data 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. Analysts expect that Basic Energy Services will post $0.53 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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