Key Energy Services, Inc. (KEG) Downgraded by Seaport Global Securities to “Neutral”
Key Energy Services, Inc. (NYSE:KEG) was downgraded by research analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat reports. They presently have a $19.00 price target on the oil and gas company’s stock, down from their prior price target of $26.00. Seaport Global Securities’ price objective would suggest a potential upside of 7.41% from the company’s current price.
Other analysts have also issued research reports about the stock. Nomura reissued a “hold” rating and issued a $23.00 price target on shares of Key Energy Services in a research report on Wednesday, May 17th. Instinet reissued a “neutral” rating and issued a $23.00 price target (down previously from $27.00) on shares of Key Energy Services in a research report on Monday, May 15th. Piper Jaffray Companies raised shares of Key Energy Services from a “neutral” rating to an “overweight” rating in a research report on Wednesday, March 29th. Capital One Financial Corporation reissued an “overweight” rating on shares of Key Energy Services in a research report on Tuesday, February 28th. Finally, Zacks Investment Research lowered shares of Key Energy Services from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $21.67.
Shares of Key Energy Services (NYSE:KEG) traded up 2.08% on Wednesday, hitting $17.69. 1,225,570 shares of the stock traded hands. The stock has a 50 day moving average price of $19.66 and a 200-day moving average price of $26.09. Key Energy Services has a 52 week low of $15.42 and a 52 week high of $54.00. The stock has a market cap of $355.50 million and a price-to-earnings ratio of 14.50.
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Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in Key Energy Services during the first quarter worth $5,642,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in Key Energy Services during the first quarter worth $4,519,000. RBF Capital LLC raised its stake 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 period. York Capital Management Global Advisors LLC purchased a new stake in Key Energy Services during the first quarter worth $1,161,000. Finally, Dialectic Capital Management LP raised its stake in Key Energy Services by 183.0% in the first quarter. Dialectic Capital Management LP now owns 55,268 shares of the oil and gas company’s stock worth $1,283,000 after buying an additional 35,737 shares during the period. 46.83% of the stock is currently owned by institutional investors and hedge funds.
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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