Dupont Capital Management Corp reduced its stake in Basic Energy Services Inc (NYSE:BAS) by 16.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,050 shares of the oil and gas company’s stock after selling 35,000 shares during the quarter. Dupont Capital Management Corp owned about 0.66% of Basic Energy Services worth $1,749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of BAS. NumerixS Investment Technologies Inc raised its stake in Basic Energy Services by 244.4% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 9,300 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 6,600 shares during the last quarter. Penn Capital Management Co. Inc. purchased a new stake in Basic Energy Services during the 2nd quarter valued at $131,000. Macquarie Group Ltd. raised its stake in Basic Energy Services by 408.3% during the 2nd quarter. Macquarie Group Ltd. now owns 18,300 shares of the oil and gas company’s stock valued at $203,000 after buying an additional 14,700 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in Basic Energy Services during the 2nd quarter valued at $220,000. Finally, OppenheimerFunds Inc. raised its stake in Basic Energy Services by 112.5% during the 2nd quarter. OppenheimerFunds Inc. now owns 23,800 shares of the oil and gas company’s stock valued at $264,000 after buying an additional 12,600 shares during the last quarter. 92.84% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider David Scott Schorlemer bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 7th. The stock was bought at an average price of $5.50 per share, with a total value of $27,500.00. Following the acquisition, the insider now owns 20,000 shares of the company’s stock, valued at approximately $110,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy H. Day bought 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The stock was purchased at an average cost of $6.91 per share, with a total value of $207,300.00. Following the acquisition, the director now directly owns 44,522 shares in the company, valued at approximately $307,647.02. The disclosure for this purchase can be found here. Insiders purchased a total of 333,702 shares of company stock valued at $2,299,025 in the last ninety days. 1.95% of the stock is currently owned by insiders.

A number of equities research analysts have weighed in on BAS shares. ValuEngine lowered shares of Basic Energy Services from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded Basic Energy Services from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Basic Energy Services has an average rating of “Buy” and an average target price of $26.24.

Shares of NYSE:BAS traded down $0.08 during midday trading on Friday, hitting $5.53. The company had a trading volume of 420,260 shares, compared to its average volume of 285,805. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.45 and a quick ratio of 1.28. The firm has a market capitalization of $149.01 million, a price-to-earnings ratio of -2.37 and a beta of 2.53. Basic Energy Services Inc has a 12-month low of $5.46 and a 12-month high of $26.75.

Basic Energy Services (NYSE:BAS) last posted its quarterly earnings data on Thursday, November 1st. The oil and gas company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.22). The company had revenue of $246.33 million during the quarter, compared to analysts’ expectations of $255.00 million. Basic Energy Services had a negative return on equity of 28.29% and a negative net margin of 12.19%. On average, equities research analysts expect that Basic Energy Services Inc will post -3.51 earnings per share for the current fiscal 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. Its 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; cased-hole wireline services; and underbalanced drilling in low pressure and fluid sensitive reservoirs.

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

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