Key Energy Services (NYSE:KEG) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of Key Energy Services (NYSE:KEG) from a buy rating to a hold rating in a report published on Monday morning, ValuEngine reports.

KEG has been the subject of several other reports. Zacks Investment Research raised shares of Key Energy Services from a sell rating to a hold rating in a research report on Tuesday, October 8th. Johnson Rice downgraded shares of Key Energy Services from an accumulate rating to a hold rating in a research report on Thursday, August 15th. Finally, Seaport Global Securities set a $3.00 target price on shares of Key Energy Services and gave the stock a buy rating in a research report on Monday, August 12th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $3.44.

KEG traded down $0.09 during midday trading on Monday, hitting $0.33. The company had a trading volume of 1,633,985 shares, compared to its average volume of 387,891. Key Energy Services has a 52 week low of $0.30 and a 52 week high of $9.64. The company has a quick ratio of 1.23, a current ratio of 1.38 and a debt-to-equity ratio of 39.86. The company has a market capitalization of $8.09 million, a price-to-earnings ratio of -0.07 and a beta of 4.35. The stock’s 50 day moving average price is $1.23 and its 200 day moving average price is $2.06.

Key Energy Services (NYSE:KEG) last posted its quarterly earnings results on Thursday, August 8th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.11). The company had revenue of $112.94 million during the quarter, compared to the consensus estimate of $129.13 million. Key Energy Services had a negative net margin of 18.70% and a negative return on equity of 614.21%. Research analysts predict that Key Energy Services will post -4.05 EPS for the current year.

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Key Energy Services by 126.6% during the second quarter. Vanguard Group Inc. now owns 493,538 shares of the oil and gas company’s stock worth $1,111,000 after acquiring an additional 275,728 shares in the last quarter. Zacks Investment Management purchased a new position in Key Energy Services during the second quarter worth about $60,000. Citadel Advisors LLC purchased a new position in Key Energy Services during the second quarter worth about $46,000. RBF Capital LLC boosted its holdings in Key Energy Services by 46.9% during the second quarter. RBF Capital LLC now owns 73,007 shares of the oil and gas company’s stock worth $164,000 after purchasing an additional 23,305 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. purchased a new position in Key Energy Services during the second quarter worth about $83,000. 45.61% 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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Analyst Recommendations for Key Energy Services (NYSE:KEG)

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