Key Energy Services Inc (NYSE:KEG)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $7.57 and last traded at $7.90, with a volume of 7275 shares. The stock had previously closed at $8.28.
Several brokerages have recently commented on KEG. Piper Jaffray Companies lowered shares of Key Energy Services from an “overweight” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Monday. Zacks Investment Research upgraded shares of Key Energy Services from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. Finally, ValuEngine upgraded shares of Key Energy Services from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.33.
The firm has a market capitalization of $147.56 million, a P/E ratio of -1.18 and a beta of 2.06.
Key Energy Services (NYSE:KEG) last issued its quarterly earnings data on Tuesday, November 6th. The oil and gas company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.04). The firm had revenue of $134.72 million for the quarter, compared to analysts’ expectations of $136.60 million. On average, sell-side analysts expect that Key Energy Services Inc will post -4.57 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. Rutabaga Capital Management LLC MA lifted its holdings in Key Energy Services by 70.7% during the 3rd quarter. Rutabaga Capital Management LLC MA now owns 1,627,978 shares of the oil and gas company’s stock worth $18,624,000 after buying an additional 674,018 shares in the last quarter. BlackRock Inc. lifted its holdings in Key Energy Services by 5.9% during the 2nd quarter. BlackRock Inc. now owns 505,390 shares of the oil and gas company’s stock worth $8,207,000 after buying an additional 28,205 shares in the last quarter. Northern Trust Corp lifted its holdings in 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 worth $7,733,000 after buying an additional 13,145 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Key Energy Services by 6.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 202,921 shares of the oil and gas company’s stock worth $2,321,000 after buying an additional 12,902 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Key Energy Services by 55.6% during the 3rd quarter. Wells Fargo & Company MN now owns 175,424 shares of the oil and gas company’s stock worth $2,007,000 after buying an additional 62,677 shares in the last quarter. Institutional investors own 51.12% of the company’s stock.
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Key Energy Services Company Profile (NYSE:KEG)
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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