Key Energy Services (NYSE:KEG) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Key Energy Services (NYSE:KEG) from a hold rating to a buy rating in a report issued on Monday, February 4th.

A number of other analysts have also commented on KEG. Piper Jaffray Companies lowered Key Energy Services from an overweight rating to a neutral rating and set a $10.00 price target on the stock. in a report on Monday, November 19th. Zacks Investment Research upgraded Key Energy Services from a sell rating to a hold rating in a report on Thursday, November 8th. Simmons lowered their target price on Key Energy Services from $45.00 to $3.25 and set a neutral rating on the stock in a research report on Thursday, December 27th. Capital One Financial downgraded Key Energy Services from an overweight rating to an equal weight rating in a research report on Wednesday, January 16th. Finally, Seaport Global Securities set a $9.00 target price on Key Energy Services and gave the company a buy rating in a research report on Friday, December 7th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Key Energy Services currently has an average rating of Hold and a consensus target price of $10.25.

KEG stock opened at $2.68 on Monday. The stock has a market cap of $37.14 million, a price-to-earnings ratio of -0.59 and a beta of 2.57. Key Energy Services has a 1-year low of $1.59 and a 1-year high of $18.40.

In other Key Energy Services news, insider Robert J. Saltiel bought 20,000 shares of the business’s stock in a transaction on Thursday, February 21st. The stock was purchased at an average cost of $1.86 per share, for a total transaction of $37,200.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott D. Vogel bought 50,000 shares of the business’s stock in a transaction on Thursday, February 21st. The shares were acquired at an average price of $1.98 per share, with a total value of $99,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 346,519 shares of company stock valued at $709,015. 3.96% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC increased its holdings in shares of Key Energy Services by 20.6% during the third quarter. Teachers Advisors LLC now owns 30,850 shares of the oil and gas company’s stock worth $353,000 after buying an additional 5,273 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Key Energy Services by 1,509.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,128 shares of the oil and gas company’s stock worth $116,000 after buying an additional 6,685 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Key Energy Services by 20.1% during the second quarter. Millennium Management LLC now owns 67,255 shares of the oil and gas company’s stock worth $1,092,000 after buying an additional 11,259 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Key Energy Services by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 190,019 shares of the oil and gas company’s stock worth $3,087,000 after buying an additional 12,037 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Key Energy Services by 2.8% during the second 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. Hedge funds and other institutional investors own 48.20% 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. 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.

Recommended Story: Trading Strategy Examples and Plans

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Key Energy Services (NYSE:KEG)

Receive News & Ratings for Key Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Key Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.