Royce & Associates LP boosted its stake in shares of Basic Energy Services Inc. (NYSE:BAS) by 12.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 140,000 shares of the company’s stock after buying an additional 15,000 shares during the period. Royce & Associates LP owned approximately 0.34% of Basic Energy Services worth $235,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BAS. BlackRock Institutional Trust Company N.A. increased its position in shares of Basic Energy Services by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,043,748 shares of the company’s stock valued at $2,881,000 after buying an additional 5,769 shares during the last quarter. KBC Group NV increased its position in shares of Basic Energy Services by 11.5% in the second quarter. KBC Group NV now owns 356,185 shares of the company’s stock valued at $598,000 after buying an additional 36,659 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Basic Energy Services by 20.6% in the first quarter. Geode Capital Management LLC now owns 256,340 shares of the company’s stock valued at $707,000 after buying an additional 43,702 shares during the last quarter. Chubb Ltd. purchased a new position in shares of Basic Energy Services during the first quarter valued at about $256,000. Finally, State Street Corp increased its position in shares of Basic Energy Services by 12.7% in the first quarter. State Street Corp now owns 844,439 shares of the company’s stock valued at $2,331,000 after buying an additional 95,388 shares during the last quarter. 55.62% of the stock is currently owned by institutional investors and hedge funds.

Basic Energy Services Inc. (NYSE:BAS) traded down 4.8325% on Friday, reaching $0.5199. 930,029 shares of the company’s stock were exchanged. Basic Energy Services Inc. has a 12 month low of $0.37 and a 12 month high of $5.17. The firm has a 50 day moving average of $0.60 and a 200 day moving average of $1.76. The stock’s market capitalization is $21.25 million.

Basic Energy Services (NYSE:BAS) last posted its earnings results on Thursday, July 21st. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.38) by $0.04. Basic Energy Services had a negative net margin of 55.62% and a negative return on equity of 380.17%. Equities analysts predict that Basic Energy Services Inc. will post ($5.25) earnings per share for the current fiscal year.

Several equities analysts recently issued reports on the stock. Johnson Rice downgraded shares of Basic Energy Services from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Jefferies Group upped their price objective on shares of Basic Energy Services from $1.00 to $1.50 and gave the company a “hold” rating in a research note on Monday, July 11th. Deutsche Bank AG reduced their price objective on shares of Basic Energy Services from $5.00 to $2.00 and set a “buy” rating on the stock in a research note on Tuesday, July 26th. Iberia Capital downgraded shares of Basic Energy Services from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 25th. Finally, Wunderlich dropped their price target on shares of Basic Energy Services from $2.00 to $1.00 and set a “hold” rating for the company in a research report on Monday, July 25th. Eighteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Basic Energy Services currently has an average rating of “Hold” and an average price target of $2.68.

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.

5 Day Chart for NYSE:BAS

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