Basic Energy Services Inc (BAS) Position Increased by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP boosted its holdings in shares of Basic Energy Services Inc (NYSE:BAS) by 30.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,935,658 shares of the oil and gas company’s stock after purchasing an additional 452,039 shares during the quarter. Dimensional Fund Advisors LP owned about 0.07% of Basic Energy Services worth $21,505,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Dupont Capital Management Corp boosted its stake in 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 valued at $2,334,000 after purchasing an additional 5,000 shares during the period. Guggenheim Capital LLC boosted its stake in Basic Energy Services by 86.6% during the 1st quarter. Guggenheim Capital LLC now owns 23,383 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 10,854 shares during the period. Penn Capital Management Co. Inc. bought a new stake in Basic Energy Services during the 2nd quarter valued at approximately $131,000. Koch Industries Inc. bought a new stake in Basic Energy Services during the 1st quarter valued at approximately $227,000. Finally, Russell Investments Group Ltd. boosted its stake in Basic Energy Services by 28.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 83,183 shares of the oil and gas company’s stock valued at $925,000 after purchasing an additional 18,422 shares during the period.
Shares of BAS stock opened at $10.18 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.49 and a debt-to-equity ratio of 0.99. Basic Energy Services Inc has a 12 month low of $7.43 and a 12 month high of $26.75. The company has a market capitalization of $264.44 million, a price-to-earnings ratio of -4.57 and a beta of 2.70.
In other news, Director James D. Kern acquired 14,000 shares of Basic Energy Services stock in a transaction on Friday, August 3rd. The stock was bought at an average price of $7.61 per share, for a total transaction of $106,540.00. Following the transaction, the director now owns 26,100 shares of the company’s stock, valued at $198,621. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Ascribe Capital Llc acquired 200,000 shares of Basic Energy Services stock in a transaction on Thursday, August 2nd. The stock was purchased 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 quarter, insiders acquired 216,500 shares of company stock valued at $1,632,415 and sold 4,800 shares valued at $48,723. 1.95% of the stock is currently owned by company insiders.
Several analysts recently weighed in on BAS shares. Zacks Investment Research downgraded Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. ValuEngine downgraded Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $25.43.
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.
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