ValuEngine downgraded shares of Key Energy Services (NYSE:KEG) from a strong-buy rating to a buy rating in a report released on Friday morning.
Several other analysts have also recently weighed in on KEG. Zacks Investment Research cut shares of Key Energy Services from a hold rating to a sell rating in a research note on Wednesday, August 29th. Piper Jaffray Companies set a $15.00 price objective on shares of Key Energy Services and gave the stock a buy rating in a research note on Wednesday, October 3rd. Finally, Seaport Global Securities set a $9.00 price objective on shares of Key Energy Services and gave the stock a buy rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $13.75.
Key Energy Services stock traded down $0.36 during midday trading on Friday, hitting $4.54. The company’s stock had a trading volume of 66,164 shares, compared to its average volume of 52,464. Key Energy Services has a 1-year low of $4.54 and a 1-year high of $18.40.
Key Energy Services (NYSE:KEG) last issued its quarterly earnings data on Tuesday, November 6th. The oil and gas company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($0.04). The business had revenue of $134.72 million for the quarter, compared to analyst estimates of $136.60 million. As a group, equities research analysts expect that Key Energy Services will post -4.66 EPS for the current fiscal year.
Several large investors have recently modified their holdings of KEG. Tower Research Capital LLC TRC raised its position in shares of Key Energy Services by 1,509.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,128 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 6,685 shares in the last quarter. PEAK6 Investments LLC acquired a new position in shares of Key Energy Services in the 3rd quarter valued at approximately $172,000. Brown Advisory Inc. acquired a new position in shares of Key Energy Services in the 2nd quarter valued at approximately $203,000. Renaissance Technologies LLC acquired a new position in shares of Key Energy Services in the 3rd quarter valued at approximately $257,000. Finally, Millennium Management LLC acquired a new position in shares of Key Energy Services in the 1st quarter valued at approximately $656,000. Institutional investors own 48.37% of the company’s stock.
About Key Energy Services
Key Energy Services, Inc operates as an onshore rig-based well servicing contractor in the United States. The company's U.S. Rig Services segment is involved in the completion of newly drilled wells; workover and recompletion of existing oil and natural gas wells; well maintenance activities; and plugging and abandonment of wells at the end of their lives, as well as provision of specialty drilling services to oil and natural gas producers.
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