Key Energy Services, Inc. (KEG) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Key Energy Services, Inc. (NYSE:KEG) from a sell rating to a hold rating in a research report released on Wednesday morning.

According to Zacks, “Key Energy Services, Inc. is an onshore, rig-based well servicing contractor. The company’s services include drilling and workover rigs, coiled tubing, frac stack and well testing, fluid services, onshore and deepwater fishing and rental services. It operates primarily in United States, Mexico, Colombia, Ecuador, the Middle East and Russia. Key Energy Services, Inc. is headquatered in Houston, Texas. “

Other research analysts have also recently issued research reports about the company. Johnson Rice started coverage on Key Energy Services in a research report on Thursday, September 21st. They set an accumulate rating on the stock. Piper Jaffray Companies reaffirmed a buy rating and set a $17.00 target price on shares of Key Energy Services in a research report on Tuesday, September 19th. Nomura set a $17.00 target price on Key Energy Services and gave the company a hold rating in a research report on Friday, August 11th. Evercore ISI started coverage on Key Energy Services in a research report on Tuesday, September 5th. They set an in-line rating on the stock. Finally, Seaport Global Securities cut Key Energy Services from a buy rating to a neutral rating and cut their target price for the company from $26.00 to $19.00 in a research report on Wednesday, June 21st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $18.17.

Shares of Key Energy Services (NYSE KEG) traded down 2.66% during midday trading on Wednesday, hitting $12.81. The stock had a trading volume of 57,057 shares. The company’s 50 day moving average is $12.99 and its 200 day moving average is $17.91. Key Energy Services has a 52 week low of $11.78 and a 52 week high of $38.00. The firm has a market cap of $257.52 million and a P/E ratio of 2.47.

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A number of institutional investors have recently modified their holdings of the stock. Fine Capital Partners L.P. lifted its holdings in Key Energy Services by 179.6% during the second quarter. Fine Capital Partners L.P. now owns 629,546 shares of the oil and gas company’s stock worth $12,112,000 after acquiring an additional 404,361 shares during the period. Vanguard Group Inc. lifted its holdings in Key Energy Services by 20.2% during the second quarter. Vanguard Group Inc. now owns 291,977 shares of the oil and gas company’s stock worth $5,618,000 after acquiring an additional 49,002 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in Key Energy Services by 26.0% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 245,250 shares of the oil and gas company’s stock worth $4,719,000 after acquiring an additional 50,650 shares during the period. Balyasny Asset Management LLC lifted its holdings in Key Energy Services by 18.6% during the second quarter. Balyasny Asset Management LLC now owns 227,534 shares of the oil and gas company’s stock worth $4,378,000 after acquiring an additional 35,762 shares during the period. Finally, State Street Corp bought a new stake in Key Energy Services during the second quarter worth $2,174,000. Institutional investors and hedge funds own 50.19% of the company’s stock.

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.

Analyst Recommendations for Key Energy Services (NYSE:KEG)

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