Renaissance Technologies LLC Takes $257,000 Position in Key Energy Services Inc (KEG)

Renaissance Technologies LLC purchased a new position in Key Energy Services Inc (NYSE:KEG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,500 shares of the oil and gas company’s stock, valued at approximately $257,000. Renaissance Technologies LLC owned approximately 0.11% of Key Energy Services as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Rutabaga Capital Management LLC MA raised its position in Key Energy Services by 70.7% in the third quarter. Rutabaga Capital Management LLC MA now owns 1,627,978 shares of the oil and gas company’s stock worth $18,624,000 after purchasing an additional 674,018 shares in the last quarter. BlackRock Inc. raised its position in Key Energy Services by 5.9% in the second quarter. BlackRock Inc. now owns 505,390 shares of the oil and gas company’s stock worth $8,207,000 after purchasing an additional 28,205 shares in the last quarter. Northern Trust Corp raised its position in Key Energy Services by 2.8% in the second quarter. Northern Trust Corp now owns 476,157 shares of the oil and gas company’s stock worth $7,733,000 after purchasing an additional 13,145 shares in the last quarter. Bank of New York Mellon Corp raised its position in Key Energy Services by 6.8% in the third quarter. Bank of New York Mellon Corp now owns 202,921 shares of the oil and gas company’s stock worth $2,321,000 after purchasing an additional 12,902 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Key Energy Services by 55.6% in the third quarter. Wells Fargo & Company MN now owns 175,424 shares of the oil and gas company’s stock worth $2,007,000 after purchasing an additional 62,677 shares in the last quarter. 50.37% of the stock is owned by hedge funds and other institutional investors.

Shares of Key Energy Services stock opened at $1.86 on Monday. The stock has a market cap of $37.75 million, a price-to-earnings ratio of -0.30 and a beta of 2.57. Key Energy Services Inc has a 1-year low of $1.59 and a 1-year high of $18.40.

KEG has been the subject of several recent research reports. Capital One Financial lowered shares of Key Energy Services from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 16th. ValuEngine raised shares of Key Energy Services from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Piper Jaffray Companies set a $3.00 price target on shares of Key Energy Services and gave the stock a “hold” rating in a research report on Thursday, December 27th. Simmons dropped their price target on shares of Key Energy Services from $45.00 to $3.25 and set a “neutral” rating for the company in a research report on Thursday, December 27th. Finally, Seaport Global Securities set a $9.00 price objective on shares of Key Energy Services and gave the stock a “buy” rating in a research note on Friday, December 7th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.25.

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Key Energy Services Profile

Key Energy Services, Inc operates as an onshore rig-based well servicing contractor in the United States. The company's U.S. 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 lives, as well as provision of specialty drilling services to oil and natural gas producers.

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

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