Sei Investments Co. Purchases Shares of 51,102 Basic Energy Services, Inc. (BAS)

Sei Investments Co. purchased a new position in Basic Energy Services, Inc. (NYSE:BAS) during the first quarter, Holdings Channel reports. The firm purchased 51,102 shares of the oil and gas company’s stock, valued at approximately $1,705,000.

Several other institutional investors also recently modified their holdings of the company. DUPONT CAPITAL MANAGEMENT Corp raised its position in shares of Basic Energy Services by 2.2% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 33,111 shares of the oil and gas company’s stock worth $1,105,000 after buying an additional 706 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Basic Energy Services by 64.8% in the first quarter. Russell Investments Group Ltd. now owns 11,296 shares of the oil and gas company’s stock worth $377,000 after buying an additional 4,440 shares during the last quarter. Thomson Horstmann & Bryant Inc. bought a new position in shares of Basic Energy Services during the first quarter worth approximately $567,000. Hudson Bay Capital Management LP bought a new position in shares of Basic Energy Services during the fourth quarter worth approximately $354,000. Finally, Ascribe Capital LLC bought a new position in shares of Basic Energy Services during the fourth quarter worth approximately $161,979,000. 97.41% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Basic Energy Services, Inc. (NYSE BAS) opened at 25.80 on Monday. The stock has a 50 day moving average of $27.69 and a 200-day moving average of $33.94. The stock’s market cap is $670.77 million. Basic Energy Services, Inc. has a 52 week low of $22.82 and a 52 week high of $44.81.

Basic Energy Services (NYSE:BAS) last announced its quarterly earnings results on Thursday, March 23rd. The oil and gas company reported ($1.18) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.04. Basic Energy Services had a negative net margin of 62.32% and a negative return on equity of 153.34%. The company had revenue of $155.53 million for the quarter, compared to analysts’ expectations of $156.22 million. Equities research analysts predict that Basic Energy Services, Inc. will post ($1.95) earnings per share for the current fiscal year.

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A number of equities analysts have recently commented on the stock. Nomura assumed coverage on shares of Basic Energy Services in a report on Wednesday, April 19th. They issued a “buy” rating and a $51.00 price target on the stock. Deutsche Bank AG reissued a “hold” rating on shares of Basic Energy Services in a report on Wednesday, March 29th. Zacks Investment Research lowered shares of Basic Energy Services from a “buy” rating to a “hold” rating in a report on Tuesday, March 28th. Seaport Global Securities raised shares of Basic Energy Services from a “neutral” rating to a “buy” rating in a report on Thursday, March 30th. Finally, Instinet reissued a “buy” rating on shares of Basic Energy Services in a report on Wednesday, April 19th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.20.

In related news, major shareholder Ascribe Capital Llc sold 11,900 shares of the business’s stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $35.68, for a total value of $424,592.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.10% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BAS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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