Zacks Investment Research upgraded shares of Key Energy Services, Inc. (NYSE:KEG) from a sell rating to a hold rating in a research note published on Friday.

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. “

Several other research analysts have also recently commented on KEG. Nomura set a $17.00 target price on shares of Key Energy Services and gave the stock a hold rating in a report on Friday, August 11th. Piper Jaffray Companies set a $27.00 target price on shares of Key Energy Services and gave the stock a buy rating in a report on Wednesday, August 9th. Instinet reiterated 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, Seaport Global Securities cut shares of Key Energy Services from a buy rating to a neutral rating and decreased their target price for the stock from $26.00 to $19.00 in a report on Wednesday, June 21st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $21.60.

Shares of Key Energy Services (NYSE KEG) opened at 12.98 on Friday. Key Energy Services has a 12-month low of $12.15 and a 12-month high of $38.00. The stock has a market cap of $260.94 million and a P/E ratio of 2.51. The company’s 50-day moving average is $15.72 and its 200-day moving average is $20.90.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fine Capital Partners L.P. lifted its position in shares of Key Energy Services by 179.6% in the second quarter. Fine Capital Partners L.P. now owns 629,546 shares of the oil and gas company’s stock worth $12,112,000 after purchasing an additional 404,361 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of 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 worth $5,618,000 after purchasing an additional 49,002 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of 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 worth $4,719,000 after purchasing an additional 50,650 shares in the last quarter. Balyasny Asset Management LLC lifted its position in shares of 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 worth $4,378,000 after purchasing an additional 35,762 shares in the last quarter. Finally, State Street Corp purchased a new stake in shares of Key Energy Services in the second quarter worth approximately $2,174,000. 50.46% of the stock is owned by institutional investors and hedge funds.

About Key Energy Services

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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