Kennedy Capital Management Inc. grew its stake in Basic Energy Services, Inc. (NYSE:BAS) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,396 shares of the oil and gas company’s stock after purchasing an additional 8,534 shares during the quarter. Kennedy Capital Management Inc. owned approximately 0.47% of Basic Energy Services worth $2,896,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in BAS. UBS Asset Management Americas Inc. acquired a new stake in shares of Basic Energy Services in the fourth quarter valued at about $221,000. Alambic Investment Management L.P. acquired a new stake in shares of Basic Energy Services in the fourth quarter valued at about $230,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Basic Energy Services in the third quarter valued at about $264,000. Parametric Portfolio Associates LLC grew its position in shares of Basic Energy Services by 107.1% in the second quarter. Parametric Portfolio Associates LLC now owns 13,350 shares of the oil and gas company’s stock valued at $332,000 after purchasing an additional 6,905 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position 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 purchasing an additional 13,865 shares during the period.
Basic Energy Services, Inc. (NYSE:BAS) opened at $17.53 on Wednesday. Basic Energy Services, Inc. has a 52-week low of $14.03 and a 52-week high of $36.58. The company has a quick ratio of 1.38, a current ratio of 1.57 and a debt-to-equity ratio of 0.77.
Several analysts have recently issued reports on BAS shares. Piper Jaffray Companies reiterated a “hold” rating and issued a $24.50 target price on shares of Basic Energy Services in a research report on Friday, November 17th. ValuEngine lowered shares of Basic Energy Services from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Seaport Global Securities upgraded shares of Basic Energy Services from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. Finally, Stephens initiated 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 price target on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $28.44.
In other Basic Energy Services news, major shareholder Ascribe Capital Llc sold 39,910 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $26.20, for a total value of $1,045,642.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John Cody Bissett sold 5,500 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $23.40, for a total transaction of $128,700.00. Following the completion of the transaction, the chief accounting officer now owns 3,749 shares in the company, valued at $87,726.60. The disclosure for this sale can be found here. Insiders sold a total of 1,009,885 shares of company stock worth $24,289,042 over the last quarter. 0.69% of the stock is currently owned by company insiders.
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Basic Energy Services 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.
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