Zacks Investment Research upgraded shares of Key Energy Services, Inc. (NYSE:KEG) from a sell rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “Key Energy Services, Inc. is an onshore, rig-based well servicing contractor. The company’s services include drilling and workover rigs, coiled tubing, frac stack and well testing, fluid services, onshore and deepwater fishing and rental services. It operates primarily in United States, Mexico, Colombia, Ecuador, the Middle East and Russia. Key Energy Services, Inc. is headquatered in Houston, Texas. “
Other equities analysts have also recently issued research reports about the company. Piper Jaffray Companies set a $27.00 target price on Key Energy Services and gave the stock a buy rating in a report on Wednesday, August 9th. Nomura set a $17.00 target price on Key Energy Services and gave the stock a hold rating in a report on Friday, August 11th. Evercore ISI started coverage on Key Energy Services in a report on Tuesday, September 5th. They set an in-line rating for the company. Finally, Seaport Global Securities cut Key Energy Services from a buy rating to a neutral rating and lowered their target price for the stock from $26.00 to $19.00 in a report on Wednesday, June 21st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $18.17.
Shares of Key Energy Services (NYSE KEG) traded up 3.09% during mid-day trading on Wednesday, hitting $13.03. The company’s stock had a trading volume of 43,178 shares. The stock has a market cap of $261.94 million and a PE ratio of 2.52. Key Energy Services has a 1-year low of $8.00 and a 1-year high of $38.00. The company has a 50-day moving average price of $13.48 and a 200-day moving average price of $19.19.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Nationwide Fund Advisors bought a new position in shares of Key Energy Services in the 2nd quarter valued at about $108,000. The Manufacturers Life Insurance Company grew its holdings in shares of Key Energy Services by 46,163.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,178 shares of the oil and gas company’s stock valued at $195,000 after acquiring an additional 10,156 shares in the last quarter. Kirr Marbach & Co. LLC IN bought a new position in shares of Key Energy Services in the 2nd quarter valued at about $198,000. New York State Common Retirement Fund bought a new position in shares of Key Energy Services in the 2nd quarter valued at about $212,000. Finally, Rhumbline Advisers bought a new position in shares of Key Energy Services in the 2nd quarter valued at about $253,000. Institutional investors own 50.19% of the company’s stock.
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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