Basic Energy Services, Inc. (NYSE:BAS) insider Thomas Monroe Patterson sold 1,500 shares of Basic Energy Services stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $15.21, for a total value of $22,815.00. Following the transaction, the insider now directly owns 47,273 shares in the company, valued at $719,022.33. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of Basic Energy Services, Inc. (NYSE BAS) traded down 2.77% during mid-day trading on Thursday, reaching $14.72. The company had a trading volume of 172,642 shares. The firm has a 50-day moving average of $22.25 and a 200-day moving average of $28.88. The company’s market capitalization is $363.05 million. Basic Energy Services, Inc. has a 12-month low of $14.69 and a 12-month high of $44.81.

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Large investors have recently made changes to their positions in the company. Phocas Financial Corp. boosted its stake in shares of Basic Energy Services by 107.0% in the second quarter. Phocas Financial Corp. now owns 160,792 shares of the oil and gas company’s stock valued at $4,004,000 after buying an additional 83,108 shares during the last quarter. Glendon Capital Management LP acquired a new stake in shares of Basic Energy Services during the second quarter valued at $7,847,000. California State Teachers Retirement System acquired a new stake in shares of Basic Energy Services during the second quarter valued at $767,000. The Manufacturers Life Insurance Company boosted its stake in shares of Basic Energy Services by 1,638.9% in the second quarter. The Manufacturers Life Insurance Company now owns 14,711 shares of the oil and gas company’s stock valued at $366,000 after buying an additional 13,865 shares during the last quarter. Finally, State Street Corp acquired a new stake in shares of Basic Energy Services during the second quarter valued at $15,122,000. 96.06% of the stock is owned by hedge funds and other institutional investors.

BAS has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Basic Energy Services from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub raised Basic Energy Services from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Seaport Global Securities downgraded Basic Energy Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 21st. Piper Jaffray Companies reissued a “neutral” rating and issued a $26.50 price objective (down from $33.00) on shares of Basic Energy Services in a research note on Wednesday, July 12th. Finally, Credit Suisse Group initiated coverage on Basic Energy Services in a research note on Friday, July 21st. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $27.63.

Basic Energy Services Company Profile

Basic Energy Services, Inc provides a range of well site services in the United States to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling. The Company operates through the segment, which include Completion and Remedial Services, Fluid Services, Well Servicing and Contract Drilling.

Insider Buying and Selling by Quarter for Basic Energy Services (NYSE:BAS)

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