Alden Global Capital adds Basic Energy Services Inc (BAS) to its portfolio

Basic Energy Services Inc (BAS) : Alden Global Capital added new position in Basic Energy Services Inc during the most recent quarter end. The investment management firm now holds 200,000 shares of Basic Energy Services Inc which is valued at $474,000 , the company said in a statement filed on May 13, 2016 with the SEC.Basic Energy Services Inc makes up approximately 0.36% of Alden Global Capital’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors boosted its stake in BAS in the latest quarter, The investment management firm added 9,024 additional shares and now holds a total of 2,619,879 shares of Basic Energy Services Inc which is valued at $6.2 Million.First Trust Advisors Lp reduced its stake in BAS by selling 151,198 shares or 24.91% in the most recent quarter. The Hedge Fund company now holds 455,737 shares of BAS which is valued at $1.1 Million. Globeflex Capital L P sold out all of its stake in BAS during the most recent quarter. The investment firm sold 62,673 shares of BAS which is valued $169,217.

Basic Energy Services Inc opened for trading at $2 and hit $2.16 on the upside on Wednesday, eventually ending the session at $2.08, with a gain of 6.12% or 0.12 points. The heightened volatility saw the trading volume jump to 15,88,118 shares. Company has a market cap of $89 M.

On the company’s financial health, Basic Energy Services Inc reported $-1.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Oct 22, 2015. Analyst had a consensus of $-1.17. The company had revenue of $189.25 million for the quarter, compared to analysts expectations of $187.73 million. The company’s revenue was down -52.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on Basic Energy Services Inc. Company shares were Reiterated by Imperial Capital on Apr 22, 2016 to “In-line”, Firm has raised the Price Target to $ 2.50 from a previous price target of $2.25 .Shares were Reiterated by Cowen on Apr 22, 2016 to “Market Perform” and Lowered the Price Target to $ 2.75 from a previous price target of $3 .Basic Energy Services Inc was Upgraded by Raymond James to ” Mkt Perform” on Apr 22, 2016.

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’s operations are managed regionally and are concentrated in major 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. Its operations 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. It provides its services to around 2000 oil and gas companies. Its operating segments are Completion and Remedial Services Fluid Services Well Servicing and Contract Drilling.

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