Johnson Rice initiated coverage on shares of Key Energy Services, Inc. (NYSE:KEG) in a report published on Thursday morning, MarketBeat reports. The brokerage issued an accumulate rating on the oil and gas company’s stock.

Other equities analysts also recently issued reports about the stock. Piper Jaffray Companies reaffirmed a buy rating and set a $17.00 price objective on shares of Key Energy Services in a report on Tuesday, September 19th. Evercore ISI reaffirmed an in-line rating and set a $11.00 price objective on shares of Key Energy Services in a report on Tuesday, September 5th. Zacks Investment Research downgraded shares of Key Energy Services from a buy rating to a sell rating in a report on Tuesday, August 15th. Nomura set a $17.00 price objective on shares of Key Energy Services and gave the stock a hold rating in a report on Friday, August 11th. Finally, Seaport Global Securities downgraded shares of Key Energy Services from a buy rating to a neutral rating and cut their price objective for the stock from $26.00 to $19.00 in a report on Wednesday, June 21st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Key Energy Services presently has a consensus rating of Hold and a consensus target price of $18.17.

Shares of Key Energy Services (NYSE KEG) opened at 12.89 on Thursday. The company has a market capitalization of $259.13 million and a price-to-earnings ratio of 2.49. The firm’s 50-day moving average is $13.48 and its 200 day moving average is $19.19. Key Energy Services has a 52-week low of $8.00 and a 52-week high of $38.00.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in KEG. Fine Capital Partners L.P. raised its stake in shares of Key Energy Services by 179.6% during the 2nd 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 during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Key Energy Services during the 1st quarter worth $4,519,000. State Street Corp bought a new stake in shares of Key Energy Services during the 2nd quarter worth $2,174,000. Northern Trust Corp bought a new stake in shares of Key Energy Services during the 2nd quarter worth $1,723,000. Finally, RBF Capital LLC raised its stake in shares of Key Energy Services by 303.2% during the 1st quarter. RBF Capital LLC now owns 89,607 shares of the oil and gas company’s stock worth $2,081,000 after purchasing an additional 67,385 shares during the period. Institutional investors own 50.19% of the company’s stock.

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.

Analyst Recommendations for Key Energy Services (NYSE:KEG)

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