Key Energy Services, Inc. (NYSE:KEG) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Wednesday, July 12th. The brokerage currently has a $22.00 price target on the oil and gas company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 37.50% from the stock’s previous close.

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. “

Other analysts also recently issued reports about the company. Nomura reissued a “hold” rating and issued a $23.00 price objective on shares of Key Energy Services in a research note on Wednesday, May 17th. Seaport Global Securities downgraded Key Energy Services from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $19.00 in a research note on Wednesday, June 21st. Instinet reaffirmed a “neutral” rating and issued a $23.00 target price (down from $27.00) on shares of Key Energy Services in a report on Monday, May 15th. Finally, Piper Jaffray Companies raised Key Energy Services from a “neutral” rating to an “overweight” rating in a report on Wednesday, March 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Key Energy Services currently has a consensus rating of “Buy” and a consensus target price of $21.75.

Shares of Key Energy Services (NYSE:KEG) opened at 16.00 on Wednesday. The firm has a market cap of $321.54 million and a P/E ratio of 13.11. Key Energy Services has a 12-month low of $15.42 and a 12-month high of $38.00. The firm’s 50-day moving average price is $18.59 and its 200 day moving average price is $24.03.

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A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new position in shares of Key Energy Services during the second quarter valued at $654,000. Rhumbline Advisers bought a new position in Key Energy Services during the second quarter worth approximately $253,000. Schwab Charles Investment Management Inc. bought a new position in Key Energy Services during the second quarter worth approximately $339,000. Parkwood LLC raised its position in Key Energy Services by 29.0% in the second quarter. Parkwood LLC now owns 26,555 shares of the oil and gas company’s stock worth $511,000 after buying an additional 5,965 shares during the last quarter. Finally, Kirr Marbach & Co. LLC IN bought a new position in Key Energy Services during the second quarter worth approximately $198,000. 46.03% of the stock is owned by institutional investors and hedge funds.

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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