Insider Selling: Alan Krenek Sells 4,000 Shares of Basic Energy Services Stock (BAS)
Basic Energy Services (NYSE:BAS) CFO Alan Krenek sold 4,000 shares of Basic Energy Services stock on the open market in a transaction dated Thursday, August 14th. The shares were sold at an average price of $24.90, for a total value of $99,600.00. Following the transaction, the chief financial officer now directly owns 150,998 shares in the company, valued at approximately $3,759,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on BAS. 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 assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.77.
Basic Energy Services (NYSE:BAS) traded up 1.31% on Friday, hitting $24.04. 1,032,554 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 $26.64 and a 200-day moving average of $25.10. The company’s market cap is $984.7 million. Basic Energy Services also was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 4,712,087 shares, an increase of 53.9% from the July 15th total of 3,061,881 shares. Currently, 13.2% of the company’s stock are sold short. Based on an average daily volume of 1,438,680 shares, the short-interest ratio is currently 3.3 days.
Basic Energy Services (NYSE:BAS) last announced its earnings results on Thursday, July 24th. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters 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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