Important Short Interest Filing: Does Basis Energy Services Incorporated (NYSE:BAS) Have Gas After Even Less Sellers Involved?

November 25, 2016 - By Ellis Scott   ·   0 Comments

Important Short Interest Filing: Does Basis Energy Services Incorporated (NYSE:BAS) Have Gas After Even Less Sellers Involved?

The stock of Basis Energy Services Incorporated (NYSE:BAS) registered a decrease of 51.86% in short interest. BAS’s total short interest was 4.55M shares in November as published by FINRA. Its down 51.86% from 9.45M shares, reported previously. With 5.39M shares average volume, it will take short sellers 1 days to cover their BAS’s short positions. The short interest to Basis Energy Services Incorporated’s float is 14.06%. About 426,885 shares traded hands. Basic Energy Services, Inc (NYSE:BAS) has declined 82.17% since April 22, 2016 and is downtrending. It has underperformed by 87.58% the S&P500.

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 has a market cap of $20.54 million. The Firm operates through the segment, which include Completion and Remedial Services, Fluid Services, Well Servicing and Contract Drilling. It currently has negative earnings. The Company’s activities are managed regionally and are concentrated in the United States onshore oil and natural gas producing regions located in Texas, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota, Colorado, Utah, Montana, West Virginia, California, Ohio and Pennsylvania.

Insitutional Activity: The institutional sentiment increased to 0.63 in 2016 Q2. Its up 0.05, from 0.58 in 2016Q1. The ratio is positive, as 21 funds sold all Basic Energy Services, Inc shares owned while 36 reduced positions. 10 funds bought stakes while 23 increased positions. They now own 23.18 million shares or 21.34% less from 29.47 million shares in 2016Q1.
Deutsche Bank Ag, a Germany-based fund reported 208,033 shares. Northern Tru Corporation has 0% invested in the company for 523,935 shares. Thrivent Financial For Lutherans accumulated 0% or 19,050 shares. Moreover, Federated Pa has 0% invested in Basic Energy Services, Inc (NYSE:BAS) for 9,010 shares. Alphamark Advisors Ltd Llc has 0.62% invested in the company for 628,434 shares. Rhumbline Advisers last reported 0% of its portfolio in the stock. Lmr Prtn Llp accumulated 53,116 shares or 0.01% of the stock. Arizona State Retirement Systems owns 20,461 shares or 0% of their US portfolio. Raymond James Fin Advsr holds 0% of its portfolio in Basic Energy Services, Inc (NYSE:BAS) for 43,626 shares. Credit Suisse Ag has 177,962 shares for 0% of their US portfolio. Citadel Advsr has 0% invested in the company for 53,266 shares. Blackrock Investment Limited Liability Corporation accumulated 0% or 25,250 shares. Price T Rowe Associate Md holds 64,800 shares or 0% of its portfolio. California Employees Retirement System last reported 0% of its portfolio in the stock. The Massachusetts-based Panagora Asset Mgmt Inc has invested 0% in Basic Energy Services, Inc (NYSE:BAS).

Basic Energy Services, Inc (NYSE:BAS) Ratings Coverage

Out of 14 analysts covering Basic Energy Services (NYSE:BAS), 4 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 29% are positive. Basic Energy Services has been the topic of 33 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Monday, February 22 by Howard Weil. The company was downgraded on Thursday, October 15 by Cowen & Co. The firm earned “Hold” rating on Monday, August 31 by Wunderlich. The firm has “Sector Perform” rating by Howard Weil given on Monday, December 14. The firm has “Outperform” rating given on Wednesday, January 13 by Iberia Capital Partners. The firm earned “In-Line” rating on Wednesday, February 3 by Imperial Capital. Simmons & Co downgraded Basic Energy Services, Inc (NYSE:BAS) on Monday, October 26 to “Neutral” rating. Howard Weil maintained the stock with “Sector Outperform” rating in Monday, August 3 report. On Thursday, March 10 the stock rating was maintained by iBERIA Capital Partners with “Outperform”. As per Monday, October 26, the company rating was maintained by Imperial Capital.

BAS Company Profile

Basic Energy Services, Inc., incorporated on January 7, 2003, 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’s divisions include Completion and Remedial Services, Fluid Services, Well Servicing and Contract Drilling. The Company’s activities are managed regionally and are concentrated in the United States onshore oil and natural gas producing regions located in Texas, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota, Colorado, Utah, Montana, West Virginia, California, Ohio and Pennsylvania. The Company’s activities are focused on liquids-rich basins, as well as natural gas-focused shale plays characterized by prolific reserves. It has a presence in the Permian Basin and the Bakken, Eagle Ford, Haynesville and Marcellus shales.

More important recent Basic Energy Services, Inc (NYSE:BAS) news were published by: Wsj.com which released: “Firm Retention Summary: Basic Energy Services Inc.” on November 21, 2016, also Seekingalpha.com published article titled: “Basic Energy Services: The Opportunity After The Storm”, Prnewswire.com published: “Basic Energy Services Continued Listing Plan Accepted By The NYSE” on November 21, 2016. More interesting news about Basic Energy Services, Inc (NYSE:BAS) was released by: Thestreet.com and their article: “Basic Energy Services (BAS) Downgraded By Deutsche Bank Amid Bankruptcy” with publication date: November 10, 2016.

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By Ellis Scott


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