Basic Energy Services Inc. (fka BASXQ)

[eastunder]

Friday 6/29 Insider Buying Report: BAS

http://www.forbes.com/sites/dividendchannel/2012/06/29/friday-629-insider-buying-report-bas-fes/?partner=yahootix

Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.

On Tuesday, Basic Energy Services Inc (BAS)’s Director, Steven A. Webster, made a $438,652 buy of BAS, purchasing 50,000 shares at a cost of $8.77 each. So far Webster is in the green, up about 20.8% on their purchase based on today’s trading high of $10.60. Basic Energy Services Inc is trading up about 3.4% on the day Friday. Before this latest buy, Webster bought BAS on 6 other occasions during the past twelve months, for a total investment of $5.47M at an average of $13.56 per share.