Deutsche Bank initiated coverage on shares of Key Energy Services (NYSE:KEG) in a research note issued to investors on Friday, March 16th, MarketBeat reports. The brokerage issued a hold rating and a $17.00 price target on the oil and gas company’s stock.
A number of other equities research analysts have also issued reports on the stock. Seaport Global Securities raised shares of Key Energy Services from a neutral rating to a buy rating in a report on Wednesday, December 20th. Zacks Investment Research raised shares of Key Energy Services from a hold rating to a buy rating and set a $15.00 price target on the stock in a report on Saturday, March 3rd. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $17.00.
Shares of KEG stock traded down $0.67 on Friday, hitting $11.89. 49,803 shares of the company’s stock traded hands, compared to its average volume of 90,079. Key Energy Services has a one year low of $8.20 and a one year high of $25.63. The firm has a market cap of $240.39, a P/E ratio of -1.89 and a beta of 2.82.
Key Energy Services (NYSE:KEG) last released its earnings results on Monday, February 26th. The oil and gas company reported ($1.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.33) by ($0.01). The company had revenue of $116.28 million for the quarter, compared to the consensus estimate of $112.90 million. equities analysts predict that Key Energy Services will post -3.07 earnings per share for the current fiscal year.
In related news, COO David J. Brunnert sold 2,868 shares of Key Energy Services stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $15.00, for a total transaction of $43,020.00. Following the completion of the transaction, the chief operating officer now directly owns 70,042 shares of the company’s stock, valued at approximately $1,050,630. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Katherine Hargis sold 6,092 shares of Key Energy Services stock in a transaction dated Monday, January 8th. The shares were 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 of the company’s stock, 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 institutional investors have recently modified their holdings of KEG. Fine Capital Partners L.P. raised its holdings in Key Energy Services by 59.5% in 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 buying an additional 374,492 shares during the last quarter. Boston Partners purchased a new position in Key Energy Services in the third quarter worth about $2,242,000. Bank of New York Mellon Corp raised its holdings in Key Energy Services by 325.0% in 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 buying an additional 129,711 shares during the last quarter. State Street Corp purchased a new position in Key Energy Services in the second quarter worth about $2,174,000. Finally, Akanthos Capital Management LLC purchased a new position in Key Energy Services in the third quarter worth about $1,317,000. 48.24% of the stock is owned by institutional investors and hedge funds.
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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.
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