Basic Energy Services Inc. (BAS) Insiders Sell Shares After Exiting Bankruptcy Protection, Plus Other Insider Trading

Influential Executive at Professional Services and Insurance Brokerage Sells Shares

A well-informed insider at Marsh & McLennan Companies Inc. (NYSE:MMC) discarded some shares last week. Alexander S. Moczarski, Chairman of Marsh & McLennan Co. International, and President and CEO of Guy Carpenter – the reinsurance intermediary subsidiary of Marsh & McLennan Companies, unloaded 8,850 shares on Thursday at $68.00 apiece. Following the recent sale, Mr. Moczarski currently owns a total of 20,029 shares.

The shares of the global professional services and insurance brokerage firm were 24% in the green for 2016. Marsh & McLennan Companies Inc. (NYSE:MMC) serves as the parent company of a number of leading risk experts and specialty consultants such as Marsh, an insurance brokerage and risk advisor; Guy Carpenter, the risk and reinsurance specialist; and Mercer, the provider of HR and related financial advice and services; among others. The company’s revenue for the first three quarters of 2016 totaled $9.85 billion, up from $9.56 billion recorded for the same period of 2015. Jim Simons’ Renaissance Technologies added a 754,500-share stake in Marsh & McLennan Companies Inc. (NYSE:MMC) to its portfolio during the third quarter.

Insiders at Oilfield Services Company Sell Shares After Exiting Bankruptcy Protection

Several insiders at Basic Energy Services Inc. (NYSE:BAS) offloaded shares this past week. To start with, Douglas B. Rogers, Vice President of Corporate Marketing, sold 7,796 shares on Thursday at prices ranging from $35.30 to $35.46 per share, cutting his overall holding to a mere 57 shares. Eric Lannen, Vice President of Human Resources, liquidated 1,500 shares on Friday at a price tag of $36.13 per share. Mr. Lannen currently owns an aggregate of 4,392 shares after the recent sale.

The insider selling discussed above comes shortly after the oilfield services company completed its restructuring and recapitalization plan and emerged from Chapter 11 bankruptcy protection. Clearly, the aforementioned insider selling should not worry investors, as some insiders might have needed to raise some cash for personal reasons (which they were unable to do throughout the reorganization process). Basic Energy Services Inc. (NYSE:BAS) filed for Chapter 11 bankruptcy in October after announcing that it had reached a deal with creditors on a prepackaged reorganization to reduced its debt load. Ken Griffin’s Citadel Advisors owned around 101,000 shares of Basic Energy Services Inc. (NYSE:BAS) at the end of September.

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