Wells Fargo & Company MN increased its stake in Basic Energy Services, Inc. (NYSE:BAS) by 184.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,372 shares of the oil and gas company’s stock after purchasing an additional 13,220 shares during the quarter. Wells Fargo & Company MN owned about 0.08% of Basic Energy Services worth $507,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Royce & Associates LP lifted its holdings in Basic Energy Services by 85.1% in the second quarter. Royce & Associates LP now owns 663,510 shares of the oil and gas company’s stock worth $16,521,000 after purchasing an additional 305,000 shares during the period. Vanguard Group Inc. acquired a new stake in Basic Energy Services in the first quarter worth about $20,818,000. Thompson Siegel & Walmsley LLC lifted its holdings in Basic Energy Services by 12.4% in the second quarter. Thompson Siegel & Walmsley LLC now owns 482,534 shares of the oil and gas company’s stock worth $12,015,000 after purchasing an additional 53,204 shares during the period. FMR LLC acquired a new stake in Basic Energy Services in the first quarter worth about $8,824,000. Finally, Peregrine Capital Management LLC lifted its holdings in Basic Energy Services by 19.2% in the 2nd quarter. Peregrine Capital Management LLC now owns 257,374 shares of the oil and gas company’s stock valued at $6,409,000 after acquiring an additional 41,409 shares during the last quarter.

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A number of equities research analysts have weighed in on BAS shares. BidaskClub raised shares of Basic Energy Services from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Credit Suisse Group started coverage on shares of Basic Energy Services in a report on Friday, July 21st. They issued a “neutral” rating for the company. Zacks Investment Research raised shares of Basic Energy Services from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Wednesday, July 26th. Seaport Global Securities reissued a “neutral” rating on shares of Basic Energy Services in a report on Friday, July 28th. Finally, Evercore ISI reissued an “outperform” rating and issued a $19.00 price target on shares of Basic Energy Services in a report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $27.25.

In other Basic Energy Services news, Director Silver Point Capital L.P. sold 875,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $22.75, for a total transaction of $19,906,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Lanny Trampas Poldrack sold 5,907 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $20.65, for a total transaction of $121,979.55. Following the sale, the vice president now directly owns 907 shares of the company’s stock, valued at $18,729.55. The disclosure for this sale can be found here. Insiders have sold 888,807 shares of company stock valued at $20,167,925 over the last ninety days. Insiders own 0.69% of the company’s stock.

Shares of Basic Energy Services, Inc. (BAS) opened at $21.89 on Monday. 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 52 week low of $14.03 and a 52 week high of $44.81.

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

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