Key Energy Services (NYSE:KEG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, 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. “

KEG has been the topic of a number of other reports. ValuEngine raised shares of Key Energy Services from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Piper Jaffray Companies set a $3.00 price target on shares of Key Energy Services and gave the stock a “hold” rating in a research note on Tuesday, March 5th. Finally, Capital One Financial cut shares of Key Energy Services from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 16th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Key Energy Services has an average rating of “Hold” and an average target price of $4.94.

NYSE:KEG opened at $3.18 on Thursday. The stock has a market capitalization of $64.75 million, a PE ratio of -0.70 and a beta of 3.10. The company has a current ratio of 1.48, a quick ratio of 1.32 and a debt-to-equity ratio of 10.51. Key Energy Services has a 1-year low of $1.59 and a 1-year high of $18.40.

Key Energy Services (NYSE:KEG) last released its earnings results on Monday, February 25th. The oil and gas company reported ($1.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.21) by $0.02. The firm had revenue of $117.25 million for the quarter, compared to the consensus estimate of $120.70 million. Key Energy Services had a negative net margin of 17.26% and a negative return on equity of 383.21%. On average, analysts forecast that Key Energy Services will post -3.01 EPS for the current fiscal year.

In other news, insider Robert J. Saltiel purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The shares were bought at an average price of $1.86 per share, for a total transaction of $37,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Soter Capital, Llc purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $5.14 per share, for a total transaction of $25,700.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 501,979 shares of company stock worth $1,308,517. 1.64% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC grew its stake in shares of Key Energy Services by 20.6% in the 3rd quarter. Teachers Advisors LLC now owns 30,850 shares of the oil and gas company’s stock valued at $353,000 after purchasing an additional 5,273 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of Key Energy Services in the 4th quarter valued at approximately $38,000. Vanguard Group Inc. grew its stake in shares of Key Energy Services by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 548,065 shares of the oil and gas company’s stock valued at $6,270,000 after purchasing an additional 26,131 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Key Energy Services by 6.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 202,921 shares of the oil and gas company’s stock valued at $2,321,000 after purchasing an additional 12,902 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Key Energy Services in the 3rd quarter valued at approximately $257,000. Institutional investors own 49.22% 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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