Key Energy Services, Inc. (NYSE:KEG) has been given an average recommendation of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $18.00.
KEG has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Key Energy Services from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Seaport Global Securities upgraded shares of Key Energy Services from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th.
In related news, COO David J. Brunnert sold 2,868 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $15.00, for a total transaction of $43,020.00. Following the transaction, the chief operating officer now owns 70,042 shares of the company’s stock, valued at $1,050,630. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine Hargis sold 6,092 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $15.00, for a total transaction of $91,380.00. Following the transaction, the senior vice president now directly owns 37,381 shares in the company, valued at approximately $560,715. The disclosure for this sale can be found here. Insiders sold 13,888 shares of company stock valued at $199,245 over the last 90 days.
A number of hedge funds have recently made changes to their positions in KEG. Fine Capital Partners L.P. increased its position in Key Energy Services by 59.5% during the third quarter. Fine Capital Partners L.P. now owns 1,004,038 shares of the oil and gas company’s stock worth $13,223,000 after acquiring an additional 374,492 shares during the period. Boston Partners bought a new position in Key Energy Services during the third quarter worth $2,242,000. Bank of New York Mellon Corp increased its position in Key Energy Services by 325.0% during the fourth 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 acquiring an additional 129,711 shares during the period. State Street Corp bought a new position in Key Energy Services during the second quarter worth $2,174,000. Finally, Akanthos Capital Management LLC bought a new position in Key Energy Services during the third quarter worth $1,317,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of Key Energy Services (NYSE:KEG) traded down $0.06 during trading on Friday, hitting $14.73. 87,528 shares of the stock were exchanged, compared to its average volume of 133,566. Key Energy Services has a twelve month low of $8.20 and a twelve month high of $25.97. The firm has a market capitalization of $306.30, a PE ratio of -2.47 and a beta of 3.06.
Key Energy Services (NYSE:KEG) last issued its quarterly earnings data on Monday, February 26th. The oil and gas company reported ($1.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.33) by ($0.01). The firm had revenue of $116.28 million for the quarter, compared to analyst estimates of $112.90 million. equities research analysts anticipate that Key Energy Services will post -2.64 EPS for the current fiscal year.
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.
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