Deutsche Bank began coverage on shares of Key Energy Services (NYSE:KEG) in a research report report published on Friday morning. The firm issued a hold rating and a $17.00 price target on the oil and gas company’s stock.
Other equities analysts have also issued reports about the company. Seaport Global Securities upgraded Key Energy Services from a neutral rating to a buy rating in a research report on Wednesday, December 20th. Zacks Investment Research upgraded Key Energy Services from a hold rating to a buy rating and set a $15.00 price objective for the company in a research report on Saturday, March 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $17.00.
Key Energy Services (NYSE:KEG) traded down $0.43 during trading on Friday, hitting $13.52. The stock had a trading volume of 202,712 shares, compared to its average volume of 107,730. The firm has a market cap of $282.04, a price-to-earnings ratio of -2.25 and a beta of 3.06. Key Energy Services has a 52 week low of $8.20 and a 52 week high of $25.97.
Key Energy Services (NYSE:KEG) last posted its earnings results on Monday, February 26th. The oil and gas company reported ($1.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.33) by ($0.01). The firm had revenue of $116.28 million during the quarter, compared to the consensus estimate of $112.90 million. sell-side analysts anticipate that Key Energy Services will post -2.82 earnings per share for the current fiscal year.
In related news, COO David J. Brunnert sold 2,868 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $15.00, for a total value of $43,020.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine Hargis sold 6,092 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $15.00, for a total value of $91,380.00. Following the completion of the transaction, the senior vice president now owns 37,381 shares of the company’s stock, valued at $560,715. The disclosure for this sale can be found here. Insiders sold a total of 13,888 shares of company stock valued at $199,245 over the last quarter. 3.96% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Fine Capital Partners L.P. boosted its position 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 acquiring an additional 138,957 shares during the last quarter. Goldman Sachs Group Inc. boosted its position 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 acquiring an additional 44,139 shares during the last quarter. Vanguard Group Inc. boosted its position in Key Energy Services by 20.2% during the 2nd 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 last quarter. Boston Partners boosted its position 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 acquiring an additional 45,025 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position 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 acquiring an additional 129,711 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.
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Key Energy Services Company Profile
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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