Key Energy Services, Inc. (KEG) Receives Average Recommendation of “Hold” from Brokerages
Key Energy Services, Inc. (NYSE:KEG) has received a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $19.00.
Several analysts have issued reports on KEG shares. Zacks Investment Research raised Key Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Seaport Global Securities raised Key Energy Services from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th.
Key Energy Services (NYSE KEG) opened at $16.98 on Friday. Key Energy Services has a fifty-two week low of $8.20 and a fifty-two week high of $36.99.
In related news, Director Scott D. Vogel bought 25,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were acquired at an average price of $9.00 per share, with a total value of $225,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO David J. Brunnert sold 2,868 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $15.00, for a total value of $43,020.00. Following the sale, the chief operating officer now directly owns 70,042 shares in the company, valued at approximately $1,050,630. The disclosure for this sale can be found here. Insiders have sold a total of 13,888 shares of company stock worth $199,245 in the last ninety days. Insiders own 3.96% of the company’s stock.
Several institutional investors have recently bought and sold shares of KEG. Fine Capital Partners L.P. boosted its position in shares of Key Energy Services by 179.6% in the 2nd 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 in the last quarter. Boston Partners acquired a new stake in shares of Key Energy Services in the 3rd quarter worth $2,242,000. State Street Corp acquired a new stake in shares of Key Energy Services in the 2nd quarter worth $2,174,000. Akanthos Capital Management LLC acquired a new stake in shares of Key Energy Services in the 3rd quarter worth $1,317,000. Finally, Northern Trust Corp acquired a new stake in shares of Key Energy Services in the 2nd quarter worth $1,723,000. 49.21% of the stock is 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.
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