Key Energy Services (KEG) Stock Price Up 10.3%

Key Energy Services, Inc. (NYSE:KEG)’s share price rose 10.3% during mid-day trading on Wednesday . The company traded as high as $14.28 and last traded at $13.63. Approximately 537,036 shares traded hands during trading, an increase of 75% from the average daily volume of 306,168 shares. The stock had previously closed at $12.36.

KEG has been the subject of a number of research reports. Johnson Rice initiated coverage on shares of Key Energy Services in a research report on Thursday, September 21st. They set an “accumulate” rating for the company. Piper Jaffray Companies reiterated a “buy” rating and set a $17.00 price target on shares of Key Energy Services in a report on Tuesday, September 19th. Seaport Global Securities upgraded shares of Key Energy Services from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Key Energy Services from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Evercore ISI initiated coverage on shares of Key Energy Services in a report on Tuesday, September 5th. They set an “in-line” rating for the company. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Key Energy Services has a consensus rating of “Hold” and an average price target of $18.17.

In other news, Director Scott D. Vogel purchased 25,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was acquired at an average cost of $9.00 per share, for a total transaction of $225,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Several hedge funds and other institutional investors have recently modified their holdings of KEG. Fine Capital Partners L.P. grew its holdings in Key Energy Services by 59.5% in the third quarter. Fine Capital Partners L.P. now owns 1,004,038 shares of the oil and gas company’s stock valued at $13,223,000 after purchasing an additional 374,492 shares during the period. Vanguard Group Inc. grew its holdings in Key Energy Services by 20.2% in the second quarter. Vanguard Group Inc. now owns 291,977 shares of the oil and gas company’s stock valued at $5,618,000 after purchasing an additional 49,002 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in Key Energy Services by 26.0% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 245,250 shares of the oil and gas company’s stock valued at $4,719,000 after purchasing an additional 50,650 shares during the period. Balyasny Asset Management LLC grew its holdings in Key Energy Services by 18.6% in the second quarter. Balyasny Asset Management LLC now owns 227,534 shares of the oil and gas company’s stock valued at $4,378,000 after purchasing an additional 35,762 shares during the period. Finally, Boston Partners purchased a new stake in Key Energy Services in the third quarter valued at approximately $2,242,000. Institutional investors and hedge funds own 49.21% of the company’s stock.

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Key Energy Services Company Profile

Key Energy Services, Inc is an onshore, rig-based well servicing contractor. The Company provides a range of well services to oil companies, foreign national oil companies, and independent oil and natural gas production companies. The Company operates in five segments: U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services, and International.

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