Investors Purchase High Volume of Basic Energy Services Put Options (BAS)

Basic Energy Services, Inc. (NYSE:BAS) was the recipient of unusually large options trading activity on Monday. Traders acquired 1,000 put options on the stock. This represents an increase of approximately 1,182% compared to the typical volume of 78 put options.

In related news, CAO John Cody Bissett sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $23.40, for a total value of $128,700.00. Following the completion of the transaction, the chief accounting officer now owns 3,749 shares in the company, valued at approximately $87,726.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William Timothy Dame sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $23.58, for a total transaction of $58,950.00. Following the completion of the transaction, the vice president now owns 3,859 shares of the company’s stock, valued at approximately $90,995.22. The disclosure for this sale can be found here. Insiders sold a total of 1,010,885 shares of company stock valued at $24,322,486 in the last 90 days. 0.69% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in BAS. Janus Henderson Group PLC acquired a new position in shares of Basic Energy Services in the 2nd quarter valued at $25,018,000. State Street Corp acquired a new position in Basic Energy Services in the 2nd quarter worth $15,122,000. Citadel Advisors LLC boosted its stake in Basic Energy Services by 406.3% in the 3rd quarter. Citadel Advisors LLC now owns 604,092 shares of the oil and gas company’s stock worth $11,659,000 after purchasing an additional 484,779 shares during the period. Vanguard Group Inc. boosted its stake in Basic Energy Services by 74.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,088,728 shares of the oil and gas company’s stock worth $27,109,000 after purchasing an additional 464,691 shares during the period. Finally, Deutsche Bank AG boosted its stake in Basic Energy Services by 117.9% in the 4th quarter. Deutsche Bank AG now owns 658,045 shares of the oil and gas company’s stock worth $15,443,000 after purchasing an additional 356,097 shares during the period.

Shares of Basic Energy Services (NYSE:BAS) traded up $0.82 during mid-day trading on Wednesday, hitting $18.17. 409,331 shares of the stock traded hands, compared to its average volume of 441,402. Basic Energy Services has a one year low of $14.03 and a one year high of $43.99. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 1.42.

Several brokerages have commented on BAS. Seaport Global Securities reiterated a “buy” rating and set a $40.00 target price on shares of Basic Energy Services in a research report on Thursday, January 18th. Zacks Investment Research upgraded shares of Basic Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. ValuEngine cut shares of Basic Energy Services from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Stephens began coverage on shares of Basic Energy Services in a research report on Tuesday, January 9th. They set an “equal weight” rating and a $26.00 target price for the company. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $24.50 target price on shares of Basic Energy Services in a research report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $28.44.

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About Basic Energy Services

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.

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