Analysts Set Key Energy Services, Inc. (KEG) Price Target at $21.50
Shares of Key Energy Services, Inc. (NYSE:KEG) have been given an average rating of “Hold” by the seven analysts that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $19.00.
Several equities analysts have weighed in on KEG shares. Seaport Global Securities lowered Key Energy Services from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $19.00 in a report on Wednesday, June 21st. Zacks Investment Research upgraded 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. Piper Jaffray Companies set a $27.00 target price on Key Energy Services and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Nomura set a $17.00 target price on Key Energy Services and gave the stock a “hold” rating in a research report on Friday, August 11th. Finally, Evercore ISI restated an “in-line” rating and set a $11.00 target price on shares of Key Energy Services in a research report on Tuesday, September 5th.
Shares of Key Energy Services (NYSE:KEG) traded up 5.02% during trading on Friday, reaching $12.56. The company’s stock had a trading volume of 563,960 shares. The stock has a market cap of $252.49 million and a P/E ratio of 2.42. Key Energy Services has a 52-week low of $8.00 and a 52-week high of $38.00. The stock has a 50-day moving average of $13.48 and a 200-day moving average of $19.19.
Hedge funds have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Key Energy Services in the first quarter worth $4,519,000. Henderson Group PLC purchased a new stake in Key Energy Services during the first quarter valued at about $588,000. Dialectic Capital Management LP raised its position in Key Energy Services by 183.0% during the first quarter. Dialectic Capital Management LP now owns 55,268 shares of the oil and gas company’s stock valued at $1,283,000 after purchasing an additional 35,737 shares in the last quarter. Point72 Asset Management L.P. raised its position in Key Energy Services by 39.6% during the first quarter. Point72 Asset Management L.P. now owns 88,792 shares of the oil and gas company’s stock valued at $2,062,000 after purchasing an additional 25,209 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in Key Energy Services during the first quarter valued at about $324,000. Institutional investors own 50.19% of the company’s stock.
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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