Key Energy Services, Inc. (KEG) Given a $27.00 Price Target at Piper Jaffray Companies

Key Energy Services, Inc. (NYSE:KEG) has been given a $27.00 price objective by equities research analysts at Piper Jaffray Companies in a research report issued on Wednesday. The firm currently has a “buy” rating on the oil and gas company’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 93.55% from the stock’s current price.

A number of other research firms have also recently weighed in on KEG. Zacks Investment Research cut Key Energy Services from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Seaport Global Securities cut Key Energy Services from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $26.00 to $19.00 in a research report on Wednesday, June 21st. Nomura began coverage on Key Energy Services in a research report on Wednesday, April 19th. They set a “neutral” rating and a $27.00 price objective on the stock. Finally, Instinet reaffirmed a “neutral” rating and set a $27.00 price objective on shares of Key Energy Services in a research report on Wednesday, April 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $22.80.

Shares of Key Energy Services (NYSE:KEG) opened at 13.95 on Wednesday. Key Energy Services has a 12 month low of $8.00 and a 12 month high of $38.00. The stock’s 50 day moving average price is $18.44 and its 200 day moving average price is $23.31. The company has a market capitalization of $280.34 million and a PE ratio of 2.69.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. boosted its position in Key Energy Services by 39.6% in the first quarter. Point72 Asset Management L.P. now owns 88,792 shares of the oil and gas company’s stock worth $2,062,000 after buying an additional 25,209 shares during the last quarter. RBF Capital LLC boosted its position in Key Energy Services by 303.2% in the first quarter. RBF Capital LLC now owns 89,607 shares of the oil and gas company’s stock worth $2,081,000 after buying an additional 67,385 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in Key Energy Services during the first quarter worth $265,000. York Capital Management Global Advisors LLC bought a new position in Key Energy Services during the first quarter worth $1,161,000. Finally, GeoSphere Capital Management boosted its position in Key Energy Services by 505.6% in the first quarter. GeoSphere Capital Management now owns 25,000 shares of the oil and gas company’s stock worth $580,000 after buying an additional 20,872 shares during the last quarter. 46.03% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Key Energy Services (NYSE:KEG)

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