Key Energy Services, Inc. (KEG) Forecasted to Earn FY2018 Earnings of ($2.32) Per Share
Key Energy Services, Inc. (NYSE:KEG) – Stock analysts at Capital One Financial Corporation decreased their FY2018 earnings per share estimates for shares of Key Energy Services in a research note issued on Monday. Capital One Financial Corporation analyst L. Lemoine now forecasts that the oil and gas company will earn ($2.32) per share for the year, down from their prior estimate of ($2.30).
Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Key Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday. Piper Jaffray Companies reiterated a “buy” rating and set a $17.00 price objective on shares of Key Energy Services in a research report on Tuesday, September 19th. Evercore ISI restated an “in-line” rating and issued a $11.00 price target on shares of Key Energy Services in a research report on Tuesday, September 5th. Nomura set a $17.00 price target on Key Energy Services and gave the stock a “hold” rating in a research report on Friday, August 11th. Finally, Johnson Rice began coverage on Key Energy Services in a research report on Thursday, September 21st. They issued an “accumulate” rating on the stock. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $18.17.
Shares of Key Energy Services (NYSE:KEG) traded down 1.64% during midday trading on Wednesday, reaching $13.22. 13,189 shares of the company’s stock traded hands. Key Energy Services has a 52-week low of $11.78 and a 52-week high of $38.00. The stock has a market cap of $265.76 million and a price-to-earnings ratio of 2.55. The stock has a 50 day moving average of $12.98 and a 200-day moving average of $17.94.
Several hedge funds and other institutional investors have recently modified their holdings of KEG. Fine Capital Partners L.P. increased its position in shares of Key Energy Services by 179.6% in the second quarter. Fine Capital Partners L.P. now owns 629,546 shares of the oil and gas company’s stock worth $12,112,000 after purchasing an additional 404,361 shares during the period. State Street Corp bought a new position in shares of Key Energy Services in the second quarter worth $2,174,000. Northern Trust Corp bought a new position in shares of Key Energy Services in the second quarter worth $1,723,000. RBF Capital LLC increased its position in shares of 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 purchasing an additional 67,385 shares during the period. Finally, TVR Capital Management LP bought a new position in shares of Key Energy Services in the second quarter worth $979,000. Institutional investors own 50.19% of the company’s stock.
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.
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