Nationwide Fund Advisors Has $322,000 Holdings in Key Energy Services, Inc. (KEG)
Nationwide Fund Advisors raised its stake in Key Energy Services, Inc. (NYSE:KEG) by 334.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,420 shares of the oil and gas company’s stock after acquiring an additional 18,798 shares during the period. Nationwide Fund Advisors owned about 0.12% of Key Energy Services worth $322,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in KEG. The Manufacturers Life Insurance Company grew 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 valued at $195,000 after acquiring an additional 10,156 shares during the period. New York State Common Retirement Fund bought a new stake in Key Energy Services in the second quarter valued at $212,000. Rhumbline Advisers bought a new stake in Key Energy Services in the second quarter valued at $253,000. Swiss National Bank bought a new stake in Key Energy Services in the second quarter valued at $258,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of Key Energy Services during the second quarter worth $339,000. Hedge funds and other institutional investors own 49.21% of the company’s stock.
In other news, Director Scott D. Vogel purchased 25,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were acquired at an average price of $9.00 per share, with a total value of $225,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several brokerages have recently commented on KEG. Piper Jaffray Companies restated a “buy” rating and set a $17.00 target price on shares of Key Energy Services in a report on Tuesday, September 19th. Johnson Rice began coverage on Key Energy Services in a report on Thursday, September 21st. They set an “accumulate” rating on the stock. Zacks Investment Research upgraded Key Energy Services from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, Seaport Global Securities upgraded Key Energy Services from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Key Energy Services currently has a consensus rating of “Hold” and an average price target of $18.17.
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Key Energy Services 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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