Zacks Investment Research upgraded shares of Key Energy Services (NYSE:KEG) from a sell rating to a hold rating in a report issued on Thursday morning, Zacks.com reports.

According to Zacks, “Key Energy Services, Inc. is an onshore, rig-based well servicing contractor. The company’s services include drilling and workover rigs, coiled tubing, frac stack and well testing, fluid services, onshore and deepwater fishing and rental services. It operates primarily in United States, Mexico, Colombia, Ecuador, the Middle East and Russia. Key Energy Services, Inc. is headquatered in Houston, Texas. “

A number of other equities research analysts have also weighed in on KEG. Seaport Global Securities set a $3.00 price target on Key Energy Services and gave the stock a buy rating in a research note on Monday, August 12th. ValuEngine lowered Key Energy Services from a buy rating to a hold rating in a research note on Wednesday, September 4th. Finally, Johnson Rice lowered Key Energy Services from an accumulate rating to a hold rating in a research note on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $3.44.

Shares of KEG stock opened at $1.48 on Thursday. Key Energy Services has a fifty-two week low of $0.96 and a fifty-two week high of $13.88. The firm has a market capitalization of $27.97 million, a price-to-earnings ratio of -0.33 and a beta of 4.31. The company has a debt-to-equity ratio of 39.86, a quick ratio of 1.23 and a current ratio of 1.38. The stock’s 50-day simple moving average is $1.71 and its 200-day simple moving average is $2.84.

Key Energy Services (NYSE:KEG) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.79) by ($0.11). Key Energy Services had a negative return on equity of 614.21% and a negative net margin of 18.70%. The business had revenue of $112.94 million for the quarter, compared to analysts’ expectations of $129.13 million. As a group, equities analysts forecast that Key Energy Services will post -3.52 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Partners boosted 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 buying an additional 7,240 shares during the last quarter. Alambic Investment Management L.P. purchased a new stake in Key Energy Services in the first quarter valued at approximately $52,000. Citadel Advisors LLC purchased a new stake in Key Energy Services in the second quarter valued at approximately $46,000. RBF Capital LLC boosted its position in Key Energy Services by 46.9% in the second quarter. RBF Capital LLC now owns 73,007 shares of the oil and gas company’s stock valued at $164,000 after buying an additional 23,305 shares during the last quarter. Finally, Zacks Investment Management purchased a new stake in Key Energy Services in the second quarter valued at approximately $60,000. Hedge funds and other institutional investors own 45.52% of the company’s stock.

Key Energy Services Company Profile

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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