Citadel Advisors LLC Purchases Shares of 20,259 Key Energy Services Inc (NYSE:KEG)

Share on StockTwits

Citadel Advisors LLC purchased a new stake in Key Energy Services Inc (NYSE:KEG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 20,259 shares of the oil and gas company’s stock, valued at approximately $46,000. Citadel Advisors LLC owned 0.10% of Key Energy Services at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RBF Capital LLC raised its stake in shares of Key Energy Services by 46.9% in the 2nd quarter. RBF Capital LLC now owns 73,007 shares of the oil and gas company’s stock valued at $164,000 after purchasing an additional 23,305 shares during the period. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Key Energy Services in the second quarter valued at about $83,000. Paloma Partners Management Co acquired a new stake in shares of Key Energy Services in the second quarter valued at about $104,000. Finally, Vanguard Group Inc. increased its position in shares of Key Energy Services by 126.6% in the second quarter. Vanguard Group Inc. now owns 493,538 shares of the oil and gas company’s stock valued at $1,111,000 after acquiring an additional 275,728 shares during the last quarter. 45.52% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:KEG opened at $1.37 on Friday. The company has a debt-to-equity ratio of 39.86, a quick ratio of 1.23 and a current ratio of 1.38. The stock’s 50-day simple moving average is $1.32 and its 200 day simple moving average is $2.48. The company has a market cap of $25.73 million, a P/E ratio of -0.30 and a beta of 4.40. Key Energy Services Inc has a 52-week low of $0.96 and a 52-week high of $11.09.

Key Energy Services (NYSE:KEG) last released its earnings results on Thursday, August 8th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.11). The company had revenue of $112.94 million during the quarter, compared to analyst estimates of $129.13 million. Key Energy Services had a negative net margin of 18.70% and a negative return on equity of 614.21%. As a group, equities analysts predict that Key Energy Services Inc will post -3.52 earnings per share for the current fiscal year.

A number of research firms recently issued reports on KEG. Johnson Rice downgraded Key Energy Services from an “accumulate” rating to a “hold” rating in a research report on Thursday, August 15th. Zacks Investment Research raised Key Energy Services from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine raised Key Energy Services from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Seaport Global Securities set a $3.00 target price on Key Energy Services and gave the company a “buy” rating in a research report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $3.44.

About Key Energy Services

Key Energy Services, Inc operates as an onshore rig-based well servicing contractor in the United States. It operates through Rig Services, Fishing and Rental Services, Coiled Tubing Services, and Fluid Management Services segments. The Rig Services segment is involved in the completion of newly drilled wells; workover and recompletion of existing oil and natural gas wells; well maintenance activities; and plugging and abandonment of wells at the end of their useful lives, as well as provision of specialty drilling services to oil and natural gas producers.

See Also: Understanding dividend yield and dividend payout ratio

Want to see what other hedge funds are holding KEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Key Energy Services Inc (NYSE:KEG).

Institutional Ownership by Quarter for Key Energy Services (NYSE:KEG)

Receive News & Ratings for Key Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Key Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.