Stone Ridge Asset Management LLC purchased a new stake in shares of Basic Energy Services Inc (NYSE:BAS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,857 shares of the oil and gas company’s stock, valued at approximately $42,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in BAS. Citigroup Inc. raised its position in Basic Energy Services by 4.0% in the fourth quarter. Citigroup Inc. now owns 63,774 shares of the oil and gas company’s stock worth $245,000 after acquiring an additional 2,434 shares in the last quarter. Teachers Advisors LLC raised its holdings in Basic Energy Services by 4.0% during the 3rd quarter. Teachers Advisors LLC now owns 88,248 shares of the oil and gas company’s stock worth $882,000 after buying an additional 3,424 shares during the period. BlueMountain Capital Management LLC raised its holdings in Basic Energy Services by 62.8% during the 3rd quarter. BlueMountain Capital Management LLC now owns 21,079 shares of the oil and gas company’s stock worth $211,000 after buying an additional 8,130 shares during the period. Rhumbline Advisers raised its holdings in Basic Energy Services by 41.4% during the 4th quarter. Rhumbline Advisers now owns 28,301 shares of the oil and gas company’s stock worth $109,000 after buying an additional 8,287 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Basic Energy Services by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 213,859 shares of the oil and gas company’s stock worth $821,000 after buying an additional 8,744 shares during the period. 88.74% of the stock is owned by institutional investors.
Several analysts have issued reports on BAS shares. Capital One Financial downgraded Basic Energy Services from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 16th. ValuEngine raised Basic Energy Services from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Finally, Zacks Investment Research raised Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Monday, March 4th.
NYSE:BAS traded down $0.17 on Friday, hitting $2.89. 328,900 shares of the company’s stock traded hands, compared to its average volume of 307,632. The stock has a market cap of $82.49 million, a PE ratio of -0.80 and a beta of 2.71. Basic Energy Services Inc has a 1 year low of $2.81 and a 1 year high of $17.43. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.60 and a quick ratio of 1.40.
Basic Energy Services (NYSE:BAS) last announced its quarterly earnings results on Thursday, February 28th. The oil and gas company reported ($0.97) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.28) by $0.31. The business had revenue of $230.35 million during the quarter, compared to analysts’ expectations of $233.00 million. Basic Energy Services had a negative return on equity of 35.67% and a negative net margin of 14.99%. On average, equities research analysts anticipate that Basic Energy Services Inc will post -2.92 earnings per share for the current year.
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About Basic Energy Services
Basic Energy Services, Inc provides well site services to oil and natural gas drilling and producing companies in the United States. The company operates through Completion and Remedial Services, Well Servicing, Water Logistics, and Contract Drilling segments. The 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; underbalanced drilling in low pressure and fluid sensitive reservoirs; and cased-hole wireline services.
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