In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Basic Energy Services Inc. (NYSE:BAS) reported that Silver Point Capital has picked up 4,883,649 of common stock as of 2017-07-03.
The acquisition brings the aggregate amount owned by Silver Point Capital to a total of 4,883,649 representing a 18.8% stake in the company.
For those not familiar with the company, Basic Energy Services delivers dependable high-quality services that address a complete range of operational needs. From our headquarters in Fort Worth, Texas, we support six geomarkets conducting operations in the Texas Gulf Coast region, the Central region, the Permian Basin of West Texas, California, the Appalachian region and the Rocky Mountains. Across every business segment, our regional expertise and responsiveness helps keep production flowing safely and efficiently.
A glance at Basic Energy Services Inc. (NYSE:BAS)’s key stats reveals a current market capitalization of $647.41 Million based on $26.00 Million outstanding and a price at last close of $26.32 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-03-16, Webster picked up 6,900 at a purchase price of $5.30. This brings their total holding to 6,900 as of the date of the filing.
On the sell side, the most recent transaction saw Ascribe unload 11,900 shares at a sale price of $35.68. This brings their total holding to 3,691,846.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Basic Energy Services Inc. (NYSE:BAS) as things move forward to see if its progress aligns with these transactions.
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