Many energy service stocks have had a tough time since early July, but Key Energy Services (NYSE:KEG) has had it worse. This is not wholly undeserved, as the company has been struggling to overcome weak international results, delays from customers in California, and a concerning lack of momentum in key basins like the Permian. Although Key is one of the biggest players in well servicing, fluid management, coiled tubing, and frac stacks (all vital offerings in the onshore market), I have to question whether the company has been seeing market share losses. Key Energy Services does look undervalued today, but so do Basic Energy Services (NYSE:BAS) and Superior Energy Services (NYSE:SPN), and management needs...
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