Key Energy Services (KEG) Boosted to “Purchase” by Zacks Investment Research

Key Energy Services (KEG) Boosted  to “Purchase” by Zacks Investment Research

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. “

Zacks Investment Research upgraded shares of Key Energy Services (NYSE:KEG) from a hold rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $4.50 price target on the oil and gas company’s stock.

A number of other brokerages have also weighed in on KEG. ValuEngine upgraded shares of Key Energy Services from a hold rating to a buy rating in a report on Wednesday, January 2nd. Piper Jaffray Companies set a $3.00 price target on shares of Key Energy Services and gave the company a hold rating in a report on Tuesday, March 5th. Simmons decreased their price target on shares of Key Energy Services from $45.00 to $3.25 and set a neutral rating on the stock in a report on Thursday, December 27th. Capital One Financial lowered shares of Key Energy Services from an overweight rating to an equal weight rating in a report on Wednesday, January 16th. Finally, Seaport Global Securities set a $9.00 price target on shares of Key Energy Services and gave the company a buy rating in a report on Friday, December 7th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $7.35.

Shares of KEG opened at $4.36 on Wednesday. The firm has a market capitalization of $80.99 million, a price-to-earnings ratio of -0.96 and a beta of 2.95. Key Energy Services has a fifty-two week low of $1.59 and a fifty-two week high of $18.40.

In other Key Energy Services news, insider Robert J. Saltiel bought 20,000 shares of Key Energy Services stock in a transaction that occurred on Thursday, February 21st. The shares were acquired at an average price of $1.86 per share, for a total transaction of $37,200.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Soter Capital, Llc bought 22,347 shares of Key Energy Services stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average price of $2.86 per share, for a total transaction of $63,912.42. The disclosure for this purchase can be found here. Insiders have purchased a total of 368,866 shares of company stock worth $772,927 in the last 90 days. Company insiders own 3.96% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Rutabaga Capital Management LLC MA lifted its holdings in shares of Key Energy Services by 23.8% during the 4th quarter. Rutabaga Capital Management LLC MA now owns 2,016,026 shares of the oil and gas company’s stock valued at $4,173,000 after acquiring an additional 388,048 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Key Energy Services by 5.0% during the 3rd quarter. Vanguard Group Inc now owns 548,065 shares of the oil and gas company’s stock valued at $6,270,000 after acquiring an additional 26,131 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Key Energy Services by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 548,065 shares of the oil and gas company’s stock valued at $6,270,000 after acquiring an additional 26,131 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Key Energy Services by 2.8% during the 2nd quarter. Northern Trust Corp now owns 476,157 shares of the oil and gas company’s stock valued at $7,733,000 after acquiring an additional 13,145 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. acquired a new position in shares of Key Energy Services during the 4th quarter valued at $554,000. Institutional investors and hedge funds own 49.45% of the company’s stock.

Key Energy Services Company Profile

Key Energy Services, Inc operates as an onshore rig-based well servicing contractor in the United States. The company's U.S. Rig Services segment is involved in the completion of newly drilled wells; workover and recompletion of existing oil and natural gas wells; well maintenance activities; and plugging and abandonment of wells at the end of their lives, as well as provision of specialty drilling services to oil and natural gas producers.

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