Key Energy Services, Inc. (KEG) Expected to Announce Quarterly Sales of $112.90 Million
Wall Street analysts expect Key Energy Services, Inc. (NYSE:KEG) to report sales of $112.90 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Key Energy Services’ earnings, with the lowest sales estimate coming in at $112.00 million and the highest estimate coming in at $113.80 million. The business is expected to report its next quarterly earnings report on Wednesday, February 14th.
On average, analysts expect that Key Energy Services will report full year sales of $112.90 million for the current fiscal year, with estimates ranging from $433.00 million to $433.60 million. For the next fiscal year, analysts forecast that the business will report sales of $543.40 million per share, with estimates ranging from $537.00 million to $549.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Key Energy Services.
Key Energy Services (NYSE:KEG) last issued its quarterly earnings data on Wednesday, November 8th. The oil and gas company reported ($1.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.31) by ($0.25). The business had revenue of $110.65 million during the quarter, compared to the consensus estimate of $111.85 million.
In other Key Energy Services news, Director Scott D. Vogel purchased 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average cost of $9.00 per share, with a total value of $225,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David J. Brunnert sold 2,868 shares of Key Energy Services stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $15.00, for a total value of $43,020.00. Following the completion of the transaction, the chief operating officer now directly owns 70,042 shares of the company’s stock, valued at $1,050,630. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,888 shares of company stock valued at $199,245.
Several institutional investors have recently added to or reduced their stakes in KEG. Fine Capital Partners L.P. raised its holdings in shares of 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 buying an additional 374,492 shares during the last quarter. Boston Partners bought a new position in shares of Key Energy Services in the third quarter valued at about $2,242,000. State Street Corp bought a new position in shares of Key Energy Services in the second quarter valued at about $2,174,000. Akanthos Capital Management LLC bought a new position in shares of Key Energy Services in the third quarter valued at about $1,317,000. Finally, Northern Trust Corp bought a new position in shares of Key Energy Services in the second quarter valued at about $1,723,000. 49.21% of the stock is owned by institutional investors and hedge funds.
Shares of Key Energy Services (NYSE:KEG) traded down $0.86 during midday trading on Friday, hitting $14.81. The company’s stock had a trading volume of 182,014 shares, compared to its average volume of 146,223. Key Energy Services has a 12 month low of $8.20 and a 12 month high of $34.85.
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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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