United Services Automobile Association maintained its stake in Basic Energy Services, Inc. (NYSE:BAS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,146 shares of the oil and gas company’s stock at the end of the first quarter. United Services Automobile Association’s holdings in Basic Energy Services were worth $3,274,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. DUPONT CAPITAL MANAGEMENT Corp increased its stake in 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 period. Russell Investments Group Ltd. increased its stake in 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 period. Wells Fargo & Company MN increased its stake in Basic Energy Services by 393.2% in the first quarter. Wells Fargo & Company MN now owns 7,152 shares of the oil and gas company’s stock worth $239,000 after buying an additional 5,702 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in Basic Energy Services during the first quarter worth approximately $215,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Basic Energy Services during the first quarter worth approximately $323,000. 97.41% of the stock is owned by institutional investors.

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

Basic Energy Services, Inc. (NYSE BAS) traded down 3.09% during mid-day trading on Tuesday, reaching $22.89. The company’s stock had a trading volume of 89,875 shares. The firm’s market capitalization is $595.12 million. Basic Energy Services, Inc. has a 1-year low of $21.88 and a 1-year high of $44.81. The firm has a 50-day moving average of $26.91 and a 200 day moving average of $33.46.

Basic Energy Services (NYSE:BAS) last announced its quarterly earnings data on Thursday, March 23rd. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.04. The firm had revenue of $155.53 million during the quarter, compared to the consensus estimate of $156.22 million. Basic Energy Services had a negative return on equity of 153.34% and a negative net margin of 62.32%. Equities analysts expect that Basic Energy Services, Inc. will post ($1.87) earnings per share for the current year.

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BAS has been the subject of several research reports. Instinet reaffirmed a “buy” rating on shares of Basic Energy Services in a research note on Wednesday, April 19th. Nomura initiated coverage on Basic Energy Services in a research note on Wednesday, April 19th. They set a “buy” rating and a $51.00 price target for the company. Seaport Global Securities raised Basic Energy Services from a “neutral” rating to a “buy” rating in a research note on Thursday, March 30th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Basic Energy Services in a research note on Wednesday, March 29th. Finally, Zacks Investment Research cut Basic Energy Services from a “buy” rating to a “hold” rating in a research report on Tuesday, March 28th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus 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 stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $35.68, for a total value of $424,592.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.10% of the stock is currently owned by corporate insiders.

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.

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