Seaport Global Securities Brokers Boost Earnings Estimates for Key Energy Services, Inc. (KEG)
Key Energy Services, Inc. (NYSE:KEG) – Seaport Global Securities increased their Q1 2018 EPS estimates for shares of Key Energy Services in a report issued on Wednesday. Seaport Global Securities analyst M. Urban now anticipates that the oil and gas company will earn ($1.22) per share for the quarter, up from their previous forecast of ($1.23). Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Key Energy Services’ Q2 2018 earnings at ($1.01) EPS, Q3 2018 earnings at ($0.64) EPS, Q4 2018 earnings at ($0.58) EPS, FY2018 earnings at ($3.44) EPS, Q1 2019 earnings at ($0.53) EPS, Q2 2019 earnings at ($0.29) EPS, Q3 2019 earnings at $0.08 EPS, Q4 2019 earnings at $0.14 EPS and FY2019 earnings at ($0.60) EPS.
KEG has been the subject of a number of other research reports. Zacks Investment Research raised shares of Key Energy Services from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Johnson Rice started coverage on shares of Key Energy Services in a research note on Thursday, September 21st. They set an “accumulate” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $18.17.
Key Energy Services (NYSE:KEG) last posted its quarterly earnings data on Wednesday, November 8th. The oil and gas company reported ($1.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.31) by ($0.25). The firm had revenue of $110.65 million for the quarter, compared to the consensus estimate of $111.85 million.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors acquired a new stake in Key Energy Services during the 2nd quarter worth approximately $108,000. The Manufacturers Life Insurance Company increased its position in Key Energy Services by 46,163.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,178 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 10,156 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in Key Energy Services during the 2nd quarter worth approximately $212,000. Rhumbline Advisers acquired a new stake in Key Energy Services during the 2nd quarter worth approximately $253,000. Finally, Swiss National Bank acquired a new stake in Key Energy Services during the 2nd quarter worth approximately $258,000. 49.21% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Katherine Hargis sold 6,092 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $15.00, for a total transaction of $91,380.00. Following the completion of the sale, the senior vice president now owns 37,381 shares of the company’s stock, valued at approximately $560,715. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO David J. Brunnert sold 2,868 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $15.00, for a total transaction of $43,020.00. Following the sale, the chief operating officer now directly owns 70,042 shares of the company’s stock, valued at approximately $1,050,630. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,888 shares of company stock valued at $199,245. Corporate insiders own 3.96% of the company’s stock.
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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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