Akanthos Capital Management LLC bought a new position in shares of Key Energy Services, Inc. (NYSE:KEG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 100,000 shares of the oil and gas company’s stock, valued at approximately $1,317,000. Key Energy Services comprises about 2.1% of Akanthos Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. Akanthos Capital Management LLC owned approximately 0.50% of Key Energy Services at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in KEG. Fine Capital Partners L.P. grew its position in 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 last quarter. Boston Partners purchased a new stake in Key Energy Services during the 3rd quarter worth approximately $2,242,000. State Street Corp purchased a new stake in Key Energy Services during the 2nd quarter worth approximately $2,174,000. Northern Trust Corp purchased a new stake in Key Energy Services during the 2nd quarter worth approximately $1,723,000. Finally, TVR Capital Management LP purchased a new stake in Key Energy Services during the 2nd quarter worth approximately $979,000. 51.97% of the stock is currently owned by institutional investors.
In other news, Director Scott D. Vogel bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average cost of $9.00 per share, for a total transaction of $225,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Several analysts have weighed in on KEG shares. Piper Jaffray Companies set a $27.00 target price on shares of Key Energy Services and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Nomura set a $17.00 price objective on shares of Key Energy Services and gave the company a “hold” rating in a report on Friday, August 11th. Zacks Investment Research downgraded shares of Key Energy Services from a “buy” rating to a “sell” rating in a report on Tuesday, August 15th. Evercore ISI reaffirmed an “in-line” rating and issued a $11.00 price objective on shares of Key Energy Services in a report on Tuesday, September 5th. Finally, Johnson Rice started coverage on shares of Key Energy Services in a report on Thursday, September 21st. They issued an “accumulate” rating on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Key Energy Services has an average rating of “Hold” and an average price target of $18.17.
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Key Energy Services 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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