Insider Selling: Kenneth V. Huseman Sells 20,000 Shares of Basic Energy Services Stock (BAS)
Basic Energy Services (NYSE:BAS) Director Kenneth V. Huseman sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $23.32, for a total transaction of $466,400.00. Following the completion of the sale, the director now directly owns 315,305 shares of the company’s stock, valued at approximately $7,352,913. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.77.
Basic Energy Services (NYSE:BAS) traded up 2.32% on Wednesday, hitting $23.85. 1,293,394 shares of the company’s stock traded hands. Basic Energy Services has a 52-week low of $11.86 and a 52-week high of $29.84. The stock’s 50-day moving average is $25.1 and its 200-day moving average is $25.81. The company’s market cap is $976.9 million.
Basic Energy Services (NYSE:BAS) last announced its 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. 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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