BlackRock Inc. Has $15.92 Million Holdings in Basic Energy Services Inc (BAS)

BlackRock Inc. grew its position in Basic Energy Services Inc (NYSE:BAS) by 10.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,433,031 shares of the oil and gas company’s stock after acquiring an additional 136,623 shares during the period. BlackRock Inc. owned about 5.41% of Basic Energy Services worth $15,921,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of Basic Energy Services by 60.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,483,619 shares of the oil and gas company’s stock worth $21,423,000 after acquiring an additional 560,216 shares during the period. Royce & Associates LP raised its position in shares of Basic Energy Services by 11.8% in the second quarter. Royce & Associates LP now owns 1,402,661 shares of the oil and gas company’s stock worth $15,584,000 after acquiring an additional 148,600 shares during the period. Millennium Management LLC raised its position in shares of Basic Energy Services by 16.3% during the 1st quarter. Millennium Management LLC now owns 1,164,095 shares of the oil and gas company’s stock worth $16,810,000 after purchasing an additional 163,202 shares during the last quarter. Dupont Capital Management Corp raised its position in shares of Basic Energy Services by 2.4% during the 2nd quarter. Dupont Capital Management Corp now owns 210,050 shares of the oil and gas company’s stock worth $2,334,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Basic Energy Services by 32.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 143,579 shares of the oil and gas company’s stock worth $2,074,000 after purchasing an additional 35,169 shares during the last quarter. Institutional investors and hedge funds own 98.69% of the company’s stock.

Separately, ValuEngine downgraded shares of Basic Energy Services from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $25.43.

BAS opened at $7.42 on Tuesday. Basic Energy Services Inc has a twelve month low of $7.34 and a twelve month high of $26.75. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.49 and a quick ratio of 1.30. The stock has a market cap of $212.56 million, a P/E ratio of -3.18 and a beta of 2.70.

Basic Energy Services (NYSE:BAS) last released its quarterly earnings results on Tuesday, July 31st. The oil and gas company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.21). Basic Energy Services had a negative return on equity of 20.44% and a negative net margin of 10.94%. The company had revenue of $253.37 million for the quarter, compared to analyst estimates of $257.50 million. On average, sell-side analysts expect that Basic Energy Services Inc will post -3.13 earnings per share for the current fiscal year.

In related news, Director James D. Kern purchased 14,000 shares of Basic Energy Services stock in a transaction that occurred on Friday, August 3rd. The stock was purchased at an average price of $7.61 per share, for a total transaction of $106,540.00. Following the transaction, the director now directly owns 26,100 shares in the company, valued at $198,621. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Ascribe Capital Llc purchased 200,000 shares of Basic Energy Services stock in a transaction that occurred on Thursday, August 2nd. The shares were bought at an average price of $7.52 per share, with a total value of $1,504,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 216,500 shares of company stock valued at $1,632,415 and have sold 3,300 shares valued at $31,893. 1.95% of the stock is owned by corporate insiders.

Basic Energy Services Profile

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.

See Also: Penny Stocks, What You Need To Know

Institutional Ownership by Quarter for Basic Energy Services (NYSE:BAS)

Receive News & Ratings for Basic Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Basic Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply