Shares of Key Energy Services, Inc. (NYSE:KEG) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $12.07 and last traded at $12.05, with a volume of 132,365 shares trading hands. The stock had previously closed at $13.00.

KEG has been the topic of several recent analyst reports. Piper Jaffray Companies set a $27.00 price target on shares of Key Energy Services and gave the company a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Key Energy Services from a “sell” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Wednesday, July 12th. Nomura set a $17.00 price target on shares of Key Energy Services and gave the company a “hold” rating in a report on Friday, August 11th. Evercore ISI initiated coverage on shares of Key Energy Services in a report on Tuesday. They issued an “in-line” rating on the stock. Finally, Seaport Global Securities cut shares of Key Energy Services from a “buy” rating to a “neutral” rating and cut their price target for the company from $26.00 to $19.00 in a report on Wednesday, June 21st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $19.83.

The firm has a market cap of $243.05 million and a P/E ratio of 2.33. The firm has a 50 day moving average price of $15.04 and a 200 day moving average price of $20.36.

Hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors bought a new position in Key Energy Services in the second quarter worth $108,000. The Manufacturers Life Insurance Company lifted its position in Key Energy Services by 46,163.6% in the second quarter. The Manufacturers Life Insurance Company now owns 10,178 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 10,156 shares during the period. Kirr Marbach & Co. LLC IN bought a new position in Key Energy Services in the second quarter worth $198,000. New York State Common Retirement Fund bought a new position in Key Energy Services in the second quarter worth $212,000. Finally, BlueCrest Capital Management Ltd bought a new position in Key Energy Services in the first quarter worth $265,000. 50.46% of the stock is owned by hedge funds and other institutional investors.

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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.