NEW YORK (TheStreet) -- Shares of Key Energy Services (KEG) are sinking, lower by 2.46% to $1.98 in early market trading on Tuesday, after the company was downgraded to "reduce" from "neutral" by analysts at Global Hunter Securities this morning.
Global Hunter also lowered its price target on the energy company's stock to $1.50 from $2.50.
Yesterday, analysts at Iberia Capital upgraded shares of Key Energy Services to an "outperform" rating from "sector perform" with a $3.50 price target.
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Houston, TX-based Key Energy Services is an onshore, rig-based well servicing contractor providing a range of well services to major oil companies, foreign national oil companies and 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 some concerns, 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."