Key Energy Services (NYSE:KEG) has been assigned a $3.00 price target by equities researchers at Seaport Global Securities in a research report issued on Monday, TipRanks reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Seaport Global Securities’ price target indicates a potential upside of 114.29% from the company’s previous close. Seaport Global Securities also issued estimates for Key Energy Services’ Q3 2019 earnings at ($0.99) EPS, Q4 2019 earnings at ($1.06) EPS, FY2019 earnings at ($4.06) EPS, Q1 2020 earnings at ($1.10) EPS, Q2 2020 earnings at ($0.85) EPS, Q3 2020 earnings at ($0.60) EPS, Q4 2020 earnings at ($0.60) EPS and FY2020 earnings at ($3.15) EPS.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Key Energy Services from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. ValuEngine raised Key Energy Services from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $3.44.
Shares of KEG stock traded down $0.20 during mid-day trading on Monday, hitting $1.40. 461,439 shares of the stock were exchanged, compared to its average volume of 317,774. The firm’s fifty day moving average price is $2.61. The company has a market capitalization of $35.53 million, a PE ratio of -0.31 and a beta of 3.98. Key Energy Services has a 12-month low of $1.59 and a 12-month high of $14.93. The company has a quick ratio of 1.32, a current ratio of 1.48 and a debt-to-equity ratio of 10.51.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Rutabaga Capital Management LLC MA lifted its position in Key Energy Services by 18.7% in the first quarter. Rutabaga Capital Management LLC MA now owns 2,393,202 shares of the oil and gas company’s stock valued at $9,716,000 after purchasing an additional 377,176 shares during the period. Vanguard Group Inc. lifted its position in 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 valued at $1,111,000 after purchasing an additional 275,728 shares during the period. Deutsche Bank AG lifted its position in Key Energy Services by 1,188.3% in the fourth quarter. Deutsche Bank AG now owns 263,757 shares of the oil and gas company’s stock valued at $545,000 after purchasing an additional 243,284 shares during the period. Boston Partners lifted its position in Key Energy Services by 3.5% in the first quarter. Boston Partners now owns 215,873 shares of the oil and gas company’s stock valued at $876,000 after purchasing an additional 7,240 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in Key Energy Services by 34.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 91,258 shares of the oil and gas company’s stock valued at $189,000 after purchasing an additional 23,463 shares during the period. Institutional investors and hedge funds own 47.90% of the company’s stock.
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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