Key Energy Services (NYSE:KEG) Shares Down 7.8%

Key Energy Services Inc (NYSE:KEG) shares dropped 7.8% during trading on Friday . The stock traded as low as $0.25 and last traded at $0.25, approximately 561,059 shares traded hands during trading. An increase of 43% from the average daily volume of 392,832 shares. The stock had previously closed at $0.27.

KEG has been the subject of several recent research reports. ValuEngine cut shares of Key Energy Services from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Seaport Global Securities set a $3.00 target price on shares of Key Energy Services and gave the stock a “buy” rating in a report on Monday, August 12th. Johnson Rice cut shares of Key Energy Services from an “accumulate” rating to a “hold” rating in a report on Thursday, August 15th. Finally, Zacks Investment Research upgraded shares of Key Energy Services from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $3.44.

The company has a debt-to-equity ratio of 39.86, a current ratio of 1.25 and a quick ratio of 1.09. The company’s 50-day simple moving average is $0.94 and its 200-day simple moving average is $1.81. The stock has a market capitalization of $5.21 million, a P/E ratio of -0.06 and a beta of 4.35.

Key Energy Services (NYSE:KEG) last posted its quarterly earnings results on Thursday, November 7th. The oil and gas company reported ($1.30) earnings per share (EPS) 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 2,602.22% and a negative net margin of 20.26%. The firm had revenue of $106.52 million for the quarter, compared to the consensus estimate of $112.60 million. On average, analysts forecast that Key Energy Services Inc will post -4.05 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC bought a new stake in Key Energy Services during the second quarter worth $46,000. Zacks Investment Management bought a new stake in Key Energy Services during the second quarter worth $60,000. Prescott Group Capital Management L.L.C. bought a new stake in Key Energy Services during the second quarter worth $83,000. Paloma Partners Management Co bought a new stake in Key Energy Services during the second quarter worth $104,000. Finally, RBF Capital LLC raised its position 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. 44.96% of the stock is currently owned by hedge funds and other institutional investors.

About Key Energy Services (NYSE:KEG)

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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