Zacks Investment Research Downgrades Key Energy Services (NYSE:KEG) to Sell

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

Separately, ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $4.94.

Key Energy Services stock opened at $2.89 on Friday. The firm has a market cap of $58.84 million, a PE ratio of -0.64 and a beta of 3.95. The company has a debt-to-equity ratio of 10.51, a quick ratio of 1.32 and a current ratio of 1.48. The firm’s 50-day moving average is $2.12. Key Energy Services has a 52 week low of $1.59 and a 52 week high of $17.44.

Key Energy Services (NYSE:KEG) last announced its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported ($1.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($0.06). The business had revenue of $109.27 million during the quarter, compared to analyst estimates of $120.53 million. Key Energy Services had a negative return on equity of 383.21% and a negative net margin of 17.26%. On average, equities research analysts anticipate that Key Energy Services will post -3.01 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP acquired a new position in shares of Key Energy Services in the fourth quarter worth about $38,000. Alambic Investment Management L.P. acquired a new position in shares of Key Energy Services in the first quarter worth about $52,000. Two Sigma Investments LP acquired a new position in shares of Key Energy Services in the fourth quarter worth about $189,000. D. E. Shaw & Co. Inc. boosted its holdings in shares of Key Energy Services by 34.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 91,258 shares of the oil and gas company’s stock worth $189,000 after buying an additional 23,463 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Key Energy Services by 1,188.3% in the fourth quarter. Deutsche Bank AG now owns 263,757 shares of the oil and gas company’s stock worth $545,000 after buying an additional 243,284 shares during the period. 47.97% of the stock is currently owned by institutional investors.

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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