Key Energy Services, Inc. (NYSE:KEG)‘s stock had its “buy” rating reissued by investment analysts at Piper Jaffray Companies in a report released on Tuesday. They presently have a $17.00 target price on the oil and gas company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 42.26% from the company’s current price.
Other equities analysts have also issued reports about the stock. Seaport Global Securities lowered shares of Key Energy Services from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $19.00 in a research report on Wednesday, June 21st. Zacks Investment Research raised shares of Key Energy Services from a “sell” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, July 12th. Evercore ISI started coverage on shares of Key Energy Services in a research report on Tuesday, September 5th. They set an “in-line” rating on the stock. Finally, Nomura set a $17.00 target price on shares of Key Energy Services and gave the stock a “hold” rating in a research report on Friday, August 11th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $18.17.
Shares of Key Energy Services (KEG) opened at 11.95 on Tuesday. The firm’s 50-day moving average price is $13.67 and its 200 day moving average price is $19.30. Key Energy Services has a 52-week low of $8.00 and a 52-week high of $38.00. The company has a market capitalization of $240.23 million and a PE ratio of 2.31.
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Several large investors have recently modified their holdings of the company. Nationwide Fund Advisors bought a new position in shares of Key Energy Services during the second quarter valued at approximately $108,000. The Manufacturers Life Insurance Company boosted its stake in shares of Key Energy Services by 46,163.6% during the second quarter. The Manufacturers Life Insurance Company now owns 10,178 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 10,156 shares in the last quarter. Kirr Marbach & Co. LLC IN bought a new position in shares of Key Energy Services during the second quarter valued at approximately $198,000. New York State Common Retirement Fund bought a new position in shares of Key Energy Services during the second quarter valued at approximately $212,000. Finally, Rhumbline Advisers bought a new position in shares of Key Energy Services during the second quarter valued at approximately $253,000. 50.19% of the stock is currently owned by institutional investors and hedge funds.
Key Energy Services Company Profile
Key Energy Services, Inc is an onshore, rig-based well servicing contractor. The Company provides a range of well services to oil companies, foreign national oil companies, and independent oil and natural gas production companies. The Company operates in five segments: U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services, and International.
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