Key Energy Services Inc (KEG) Receives Consensus Recommendation of “Hold” from Analysts

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Key Energy Services Inc (NYSE:KEG) has been assigned an average rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $5.08.

Several equities analysts have recently weighed in on the stock. ValuEngine raised shares of Key Energy Services from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Zacks Investment Research raised shares of Key Energy Services from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a research note on Wednesday, March 13th. Finally, Piper Jaffray Companies set a $3.00 price objective on Key Energy Services and gave the company a “hold” rating in a report on Tuesday, March 5th.

In related news, major shareholder Soter Capital, Llc acquired 253,519 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was bought at an average price of $2.09 per share, with a total value of $529,854.71. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert J. Saltiel acquired 20,000 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was bought at an average cost of $1.86 per share, with a total value of $37,200.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 431,979 shares of company stock valued at $1,172,317. 1.64% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its holdings in shares of Key Energy Services by 160.0% in the 1st quarter. Jane Street Group LLC now owns 27,759 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 17,084 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Key Energy Services by 2.6% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 838,200 shares of the oil and gas company’s stock valued at $3,403,000 after purchasing an additional 21,600 shares during the last quarter. Contrarian Capital Management L.L.C. lifted its holdings in Key Energy Services by 5.5% during the 1st quarter. Contrarian Capital Management L.L.C. now owns 1,903,736 shares of the oil and gas company’s stock valued at $7,729,000 after purchasing an additional 100,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Key Energy Services by 1.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,529,140 shares of the oil and gas company’s stock valued at $6,208,000 after purchasing an additional 28,613 shares during the last quarter. Finally, Ellington Management Group LLC acquired a new stake in Key Energy Services during the 1st quarter valued at $100,000. 48.93% of the stock is owned by institutional investors.

Shares of KEG opened at $2.18 on Friday. The company has a market cap of $44.39 million, a PE ratio of -0.48 and a beta of 3.10. Key Energy Services has a twelve month low of $1.59 and a twelve month high of $17.76. The company has a debt-to-equity ratio of 10.51, a current ratio of 1.48 and a quick ratio of 1.32.

Key Energy Services (NYSE:KEG) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.06). The business had revenue of $109.27 million for the quarter, compared to the consensus estimate of $120.53 million. Key Energy Services had a negative return on equity of 383.21% and a negative net margin of 17.26%. As a group, sell-side analysts expect that Key Energy Services will post -3.14 EPS for the current fiscal year.

Key Energy Services Company Profile

Key Energy Services, Inc operates as an onshore rig-based well servicing contractor in the United States. It operates through Rig Services, Fishing and Rental Services, Coiled Tubing Services, and Fluid Management Services segments. The 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 useful lives, as well as provision of specialty drilling services to oil and natural gas producers.

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