Key Energy Services Inc (NYSE:KEG) – Investment analysts at Piper Jaffray Companies lowered their Q2 2019 EPS estimates for shares of Key Energy Services in a research note issued on Monday, May 13th, Zacks Investment Research reports. Piper Jaffray Companies analyst J. Daniel now expects that the oil and gas company will post earnings of ($0.80) per share for the quarter, down from their prior forecast of ($0.73). Piper Jaffray Companies currently has a “Hold” rating and a $3.00 target price on the stock. Piper Jaffray Companies also issued estimates for Key Energy Services’ Q3 2019 earnings at ($0.65) EPS, Q4 2019 earnings at ($0.79) EPS, FY2019 earnings at ($3.39) EPS, Q1 2020 earnings at ($0.61) EPS, Q2 2020 earnings at ($0.37) EPS, Q3 2020 earnings at ($0.21) EPS, Q4 2020 earnings at ($0.26) EPS and FY2020 earnings at ($1.45) EPS.
Several other equities analysts also recently commented on the stock. ValuEngine downgraded shares of Key Energy Services from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Key Energy Services from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Key Energy Services presently has a consensus rating of “Hold” and a consensus target price of $4.94.
Shares of NYSE:KEG opened at $2.20 on Wednesday. The stock has a market cap of $47.65 million, a P/E ratio of -0.49 and a beta of 3.10. Key Energy Services has a 12 month low of $1.59 and a 12 month high of $18.15. The company has a debt-to-equity ratio of 10.51, a quick ratio of 1.32 and a current ratio of 1.48.
Key Energy Services (NYSE:KEG) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.06). The company had revenue of $109.27 million during the quarter, compared to analysts’ expectations of $120.53 million. Key Energy Services had a negative return on equity of 383.21% and a negative net margin of 17.26%.
In related news, major shareholder Soter Capital, Llc bought 253,519 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were acquired at an average cost of $2.09 per share, for a total transaction of $529,854.71. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert J. Saltiel bought 20,000 shares of the company’s stock in a transaction on Monday, February 25th. The stock was bought at an average price of $1.86 per share, for a total transaction of $37,200.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 431,979 shares of company stock worth $1,172,317 over the last quarter. 1.64% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Teachers Advisors LLC grew its stake in 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 worth $353,000 after acquiring an additional 5,273 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Key Energy Services in the 4th quarter worth approximately $38,000. Vanguard Group Inc. lifted its position 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 worth $6,270,000 after purchasing an additional 26,131 shares during the period. Bank of New York Mellon Corp lifted its position 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 worth $2,321,000 after purchasing an additional 12,902 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Key Energy Services in the 3rd quarter worth approximately $257,000. Institutional investors and hedge funds own 48.93% of the company’s stock.
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.