State Street Corp Acquires Shares of 607,287 Basic Energy Services, Inc. (BAS)

State Street Corp acquired a new stake in shares of Basic Energy Services, Inc. (NYSE:BAS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 607,287 shares of the oil and gas company’s stock, valued at approximately $15,122,000. State Street Corp owned about 2.46% of Basic Energy Services at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new stake in shares of Basic Energy Services during the second quarter valued at approximately $25,018,000. Cramer Rosenthal Mcglynn LLC grew its holdings in shares of Basic Energy Services by 22.7% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,022,597 shares of the oil and gas company’s stock valued at $25,463,000 after purchasing an additional 189,017 shares in the last quarter. Key Group Holdings Cayman LTD. purchased a new position in shares of Basic Energy Services in the second quarter valued at $40,639,000. PDT Partners LLC purchased a new position in shares of Basic Energy Services in the second quarter valued at $5,391,000. Finally, Balyasny Asset Management LLC grew its holdings in shares of Basic Energy Services by 39.6% in the second quarter. Balyasny Asset Management LLC now owns 329,845 shares of the oil and gas company’s stock valued at $8,213,000 after purchasing an additional 93,482 shares in the last quarter.

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A number of research firms recently weighed in on BAS. BidaskClub lowered shares of Basic Energy Services from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research raised shares of Basic Energy Services from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Wednesday, July 26th. Credit Suisse Group raised their target price on shares of Basic Energy Services from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, November 6th. Seaport Global Securities reissued a “neutral” rating on shares of Basic Energy Services in a report on Friday, July 28th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $24.50 target price on shares of Basic Energy Services in a report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Basic Energy Services currently has a consensus rating of “Hold” and an average price target of $26.92.

In other Basic Energy Services news, VP John Cody Bissett sold 2,500 shares of Basic Energy Services stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $19.50, for a total transaction of $48,750.00. Following the completion of the transaction, the vice president now directly owns 3,401 shares of the company’s stock, valued at $66,319.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Samuel E. Langford acquired 2,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were purchased at an average cost of $14.20 per share, with a total value of $28,400.00. Following the completion of the purchase, the director now directly owns 6,300 shares of the company’s stock, valued at $89,460. The disclosure for this purchase can be found here. Insiders have sold 888,807 shares of company stock valued at $20,174,030 over the last ninety days. 0.69% of the stock is owned by insiders.

Basic Energy Services, Inc. (BAS) opened at $21.10 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.59 and a debt-to-equity ratio of 0.76. Basic Energy Services, Inc. has a one year low of $14.03 and a one year high of $44.81.

About Basic Energy Services

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

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