Key Energy Services (NYSE:KEG) Rating Increased to Hold at Zacks Investment Research

Key Energy Services (NYSE:KEG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

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. “

Other research analysts also recently issued research reports about the company. ValuEngine upgraded Key Energy Services from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Seaport Global Securities set a $3.00 price target on Key Energy Services and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Johnson Rice cut Key Energy Services from an “accumulate” rating to a “hold” rating in a research report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Key Energy Services currently has a consensus rating of “Hold” and an average price target of $3.44.

NYSE KEG traded down $0.03 on Wednesday, reaching $1.30. The stock had a trading volume of 114,470 shares, compared to its average volume of 319,413. The business has a 50 day moving average price of $1.34 and a 200 day moving average price of $2.65. The company has a current ratio of 1.38, a quick ratio of 1.23 and a debt-to-equity ratio of 39.86. Key Energy Services has a 1 year low of $0.96 and a 1 year high of $11.12. The company has a market capitalization of $26.10 million, a price-to-earnings ratio of -0.29 and a beta of 4.40.

Key Energy Services (NYSE:KEG) last issued its earnings results on Thursday, August 8th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.11). Key Energy Services had a negative net margin of 18.70% and a negative return on equity of 614.21%. The firm had revenue of $112.94 million during the quarter, compared to analysts’ expectations of $129.13 million. On average, analysts anticipate that Key Energy Services will post -3.52 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in KEG. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Key Energy Services in the second quarter worth about $83,000. RBF Capital LLC lifted its position in shares of Key Energy Services by 46.9% in the second quarter. RBF Capital LLC now owns 73,007 shares of the oil and gas company’s stock worth $164,000 after buying an additional 23,305 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Key Energy Services by 126.6% in the second quarter. Vanguard Group Inc. now owns 493,538 shares of the oil and gas company’s stock worth $1,111,000 after buying an additional 275,728 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Key Energy Services in the second quarter worth about $104,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Key Energy Services in the second quarter worth about $46,000. 45.52% of the stock is owned by institutional investors.

About Key Energy Services

Key Energy Services, Inc operates as an onshore rig-based well servicing contractor in the United States. It operates through Rig Services, Fishing and Rental Services, Coiled Tubing Services, and Fluid Management Services segments. The 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 useful lives, as well as provision of specialty drilling services to oil and natural gas producers.

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