NEW YORK (TheStreet) -- Shares of Key Energy Services (KEG) are jumping, sharply up 10.79% to $1.54 in midday trading Wednesday, as energy stocks are rising ahead of Friday's jobs report on nonfarm payrolls and a policy decision from the European Central Bank tomorrow, Bloomberg reports.
The U.S. Labor Department is scheduled to release its monthly employment situation report, as economists are expecting nonfarm payroll to gain 235,000 in November after advancing 214,000 in October.
Also, the ECB releases its monetary policy decisions Thursday when they meet in Frankfurt, Germany. Investors await a decision that may lead to full-scale quantitative easing.
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Houston, TX-based Key is an onshore, rig-based well servicing contractor servicing major oil companies, foreign national oil companies as well as independent oil and natural gas production companies.
Separately, TheStreet Ratings team rates KEY ENERGY SERVICES INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate KEY ENERGY SERVICES INC (KEG) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, poor profit margins and weak operating cash flow."