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. “
Several other equities research analysts have also recently weighed in on KEG. Johnson Rice cut shares of Key Energy Services from an accumulate rating to a hold rating in a research report on Thursday, August 15th. Seaport Global Securities set a $3.00 price objective on shares of Key Energy Services and gave the stock a buy rating in a research report on Monday, August 12th. Finally, ValuEngine cut shares of Key Energy Services from a buy rating to a hold rating in a research report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $3.44.
Shares of KEG traded down $0.09 during trading hours on Friday, hitting $0.33. 1,633,985 shares of the stock were exchanged, compared to its average volume of 387,891. Key Energy Services has a fifty-two week low of $0.30 and a fifty-two week high of $9.64. The company has a debt-to-equity ratio of 39.86, a current ratio of 1.38 and a quick ratio of 1.23. The business has a 50-day moving average of $1.23 and a 200-day moving average of $2.06. The firm has a market capitalization of $8.09 million, a P/E ratio of -0.07 and a beta of 4.35.
Key Energy Services (NYSE:KEG) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas company reported ($1.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($0.33). Key Energy Services had a negative return on equity of 614.21% and a negative net margin of 18.70%. The firm had revenue of $106.52 million for the quarter, compared to analyst estimates of $112.60 million. As a group, analysts forecast that Key Energy Services will post -4.05 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC bought a new position in Key Energy Services during the second quarter worth $46,000. RBF Capital LLC boosted its stake in Key Energy Services by 46.9% during the second quarter. RBF Capital LLC now owns 73,007 shares of the oil and gas company’s stock worth $164,000 after acquiring an additional 23,305 shares in the last quarter. Zacks Investment Management bought a new position in Key Energy Services during the second quarter worth $60,000. Prescott Group Capital Management L.L.C. bought a new position in Key Energy Services during the second quarter worth $83,000. Finally, Paloma Partners Management Co bought a new position in Key Energy Services during the second quarter worth $104,000. 45.61% of the stock is currently owned by institutional investors and hedge funds.
About Key Energy Services
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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