ValuEngine downgraded shares of Key Energy Services (NYSE:KEG) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.
Other analysts have also issued research reports about the company. Zacks Investment Research raised Key Energy Services from a sell rating to a hold rating in a report on Saturday, May 26th. Piper Jaffray Companies set a $17.00 price objective on Key Energy Services and gave the stock a buy rating in a report on Sunday, April 1st. Finally, Deutsche Bank started coverage on Key Energy Services in a report on Friday, March 16th. They set a hold rating and a $17.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Key Energy Services presently has a consensus rating of Hold and an average target price of $15.40.
KEG opened at $16.02 on Thursday. Key Energy Services has a 12-month low of $8.20 and a 12-month high of $20.28.
Key Energy Services (NYSE:KEG) last released its earnings results on Wednesday, May 9th. The oil and gas company reported ($1.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.26) by ($0.10). The business had revenue of $125.32 million during the quarter, compared to analysts’ expectations of $120.20 million. sell-side analysts predict that Key Energy Services will post -3.13 EPS for the current year.
Large investors have recently made changes to their positions in the company. California Public Employees Retirement System acquired a new stake in shares of Key Energy Services during the 1st quarter worth approximately $161,000. Dimensional Fund Advisors LP bought a new position in shares of Key Energy Services during the 1st quarter worth approximately $176,000. Citadel Advisors LLC bought a new position in shares of Key Energy Services during the 4th quarter worth approximately $179,000. Deutsche Bank AG lifted its position in shares of Key Energy Services by 149.4% during the 4th quarter. Deutsche Bank AG now owns 24,319 shares of the oil and gas company’s stock worth $285,000 after buying an additional 14,567 shares during the period. Finally, A.R.T. Advisors LLC bought a new position in shares of Key Energy Services during the 1st quarter worth approximately $352,000. 56.14% of the stock is currently owned by institutional investors.
About Key Energy Services
Key Energy Services, Inc operates as an onshore rig-based well servicing contractor in the United States. The company's U.S. 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 lives, as well as provision of specialty drilling services to oil and natural gas producers.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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