Key Energy Services (KEG) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of Key Energy Services (NYSE:KEG) from a sell rating to a hold rating in a research note published on Monday morning.

Several other research firms have also weighed in on KEG. Zacks Investment Research lowered Key Energy Services from a buy rating to a hold rating in a research note on Thursday, January 25th. Deutsche Bank began coverage on Key Energy Services in a report on Friday, March 16th. They set a hold rating and a $17.00 target price on the stock. Piper Jaffray set a $17.00 target price on Key Energy Services and gave the company a buy rating in a report on Sunday, April 1st. Finally, Seaport Global Securities upgraded Key Energy Services from a neutral rating to a buy rating in a report on Wednesday, December 20th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $17.00.

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NYSE KEG opened at $12.56 on Monday. Key Energy Services has a 1-year low of $8.20 and a 1-year high of $25.63.

Key Energy Services (NYSE:KEG) last released its quarterly earnings data on Monday, February 26th. The oil and gas company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($1.33) by ($0.01). The firm had revenue of $116.28 million during the quarter, compared to analyst estimates of $112.90 million. sell-side analysts anticipate that Key Energy Services will post -3.07 EPS for the current year.

In related news, COO David J. Brunnert sold 2,868 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $15.00, for a total transaction of $43,020.00. Following the sale, the chief operating officer now directly owns 70,042 shares in the company, valued at approximately $1,050,630. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Katherine Hargis sold 6,092 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $15.00, for a total value of $91,380.00. Following the sale, the senior vice president now owns 37,381 shares in the company, valued at $560,715. The disclosure for this sale can be found here. Company insiders own 3.96% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Fine Capital Partners L.P. increased its holdings in Key Energy Services by 13.8% during the 4th quarter. Fine Capital Partners L.P. now owns 1,142,995 shares of the oil and gas company’s stock worth $13,476,000 after purchasing an additional 138,957 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Key Energy Services by 4.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,009 shares of the oil and gas company’s stock worth $11,932,000 after purchasing an additional 44,139 shares during the last quarter. Boston Partners increased its holdings in Key Energy Services by 26.4% during the 4th quarter. Boston Partners now owns 215,297 shares of the oil and gas company’s stock worth $2,538,000 after purchasing an additional 45,025 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Key Energy Services by 325.0% during the 4th quarter. Bank of New York Mellon Corp now owns 169,625 shares of the oil and gas company’s stock worth $2,000,000 after purchasing an additional 129,711 shares during the last quarter. Finally, State Street Corp purchased a new stake in Key Energy Services during the 2nd quarter worth approximately $2,174,000. Institutional investors own 48.24% of the company’s stock.

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About Key Energy Services

Key Energy Services, Inc is an onshore, rig-based well servicing contractor. The Company provides a range of well services to oil companies, foreign national oil companies, and independent oil and natural gas production companies. The Company operates in five segments: U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services, and International.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Key Energy Services (NYSE:KEG)

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