David Scott Schorlemer Acquires 5,000 Shares of Basic Energy Services Inc (BAS) Stock

Basic Energy Services Inc (NYSE:BAS) insider David Scott Schorlemer bought 5,000 shares of the stock in a transaction dated Friday, December 7th. The stock was purchased at an average price of $5.50 per share, with a total value of $27,500.00. Following the purchase, the insider now owns 20,000 shares in the company, valued at $110,000. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

David Scott Schorlemer also recently made the following trade(s):

  • On Tuesday, November 27th, David Scott Schorlemer acquired 5,000 shares of Basic Energy Services stock. The shares were bought at an average price of $6.20 per share, with a total value of $31,000.00.
  • On Friday, November 16th, David Scott Schorlemer acquired 5,000 shares of Basic Energy Services stock. The shares were bought at an average price of $7.24 per share, with a total value of $36,200.00.
  • On Monday, November 19th, David Scott Schorlemer acquired 10,000 shares of Basic Energy Services stock. The shares were bought at an average price of $7.12 per share, with a total value of $71,200.00.

NYSE:BAS traded down $0.08 during trading hours on Friday, reaching $5.53. 420,260 shares of the company traded hands, compared to its average volume of 285,805. Basic Energy Services Inc has a 1 year low of $5.46 and a 1 year high of $26.75. The company has a current ratio of 1.45, a quick ratio of 1.28 and a debt-to-equity ratio of 1.07.

Basic Energy Services (NYSE:BAS) last announced its quarterly earnings data on Thursday, November 1st. The oil and gas company reported ($0.94) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.22). The company had revenue of $246.33 million for the quarter, compared to analysts’ expectations of $255.00 million. Basic Energy Services had a negative net margin of 12.19% and a negative return on equity of 28.29%. Research analysts predict that Basic Energy Services Inc will post -3.51 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. NumerixS Investment Technologies Inc raised its stake in Basic Energy Services by 244.4% during the second quarter. NumerixS Investment Technologies Inc now owns 9,300 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 6,600 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Basic Energy Services by 408.3% in the second quarter. Macquarie Group Ltd. now owns 18,300 shares of the oil and gas company’s stock worth $203,000 after purchasing an additional 14,700 shares during the last quarter. BlueMountain Capital Management LLC raised its stake in shares of Basic Energy Services by 62.8% in the third quarter. BlueMountain Capital Management LLC now owns 21,079 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 8,130 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Basic Energy Services in the third quarter worth $218,000. Finally, OppenheimerFunds Inc. raised its stake in shares of Basic Energy Services by 112.5% in the second quarter. OppenheimerFunds Inc. now owns 23,800 shares of the oil and gas company’s stock worth $264,000 after purchasing an additional 12,600 shares during the last quarter. Institutional investors and hedge funds own 92.84% of the company’s stock.

A number of research analysts have issued reports on BAS shares. ValuEngine cut Basic Energy Services from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.24.

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About Basic Energy Services

Basic Energy Services, Inc provides well site services to oil and natural gas drilling and producing companies in the United States. Its Completion and Remedial Services segment offers pumping services, such as cementing, acidizing, fracturing, nitrogen, and pressure testing; rental and fishing tools; coiled tubing; snubbing services; thru-tubing; cased-hole wireline services; and underbalanced drilling in low pressure and fluid sensitive reservoirs.

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