Key Energy Services (KEG) Lowered to Hold at Zacks Investment Research

Key Energy Services (NYSE:KEG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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. “

Separately, Seaport Global Securities upgraded shares of Key Energy Services from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.67.

Key Energy Services (KEG) opened at $16.01 on Thursday. Key Energy Services has a one year low of $8.20 and a one year high of $35.16.

Key Energy Services (NYSE:KEG) last issued its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported ($1.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.31) by ($0.25). The firm had revenue of $110.65 million for the quarter, compared to analyst estimates of $111.85 million. sell-side analysts predict that Key Energy Services will post -6.72 earnings per share for the current year.

In related news, SVP Katherine Hargis sold 6,092 shares of Key Energy Services stock in a transaction 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 transaction, the senior vice president now owns 37,381 shares in the company, valued at approximately $560,715. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott D. Vogel bought 25,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average price of $9.00 per share, for a total transaction of $225,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 13,888 shares of company stock worth $199,245. 3.96% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new position in shares of Key Energy Services during the 2nd quarter valued at $654,000. Boston Partners purchased a new position in shares of Key Energy Services during the 3rd quarter valued at $2,242,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Key Energy Services during the 2nd quarter valued at $339,000. Northern Trust Corp purchased a new position in shares of Key Energy Services during the 2nd quarter valued at $1,723,000. Finally, TIAA CREF Investment Management LLC purchased a new stake in Key Energy Services in the 2nd quarter worth $526,000. Institutional investors own 49.21% 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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