KLX Energy Services (NASDAQ:KLXE) Issues Quarterly Earnings Results

KLX Energy Services (NASDAQ:KLXE) posted its earnings results on Monday. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.18, FiscalAI reports. The company had revenue of $167.30 million during the quarter, compared to the consensus estimate of $167.50 million.

KLX Energy Services Price Performance

Shares of NASDAQ KLXE traded up $0.18 during midday trading on Monday, hitting $2.24. 396,474 shares of the company’s stock were exchanged, compared to its average volume of 279,019. The stock’s 50 day moving average price is $2.45 and its 200-day moving average price is $2.68. The firm has a market cap of $44.60 million, a P/E ratio of -0.59 and a beta of 0.85. KLX Energy Services has a twelve month low of $1.49 and a twelve month high of $4.50.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of KLX Energy Services in a research report on Friday, July 31st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

Institutional Trading of KLX Energy Services

Several large investors have recently added to or reduced their stakes in KLXE. Jain Global LLC bought a new stake in KLX Energy Services during the 4th quarter valued at $29,000. Boothbay Fund Management LLC bought a new position in shares of KLX Energy Services in the second quarter worth $30,000. Virtu Financial LLC acquired a new position in shares of KLX Energy Services during the third quarter valued at $36,000. Raymond James Financial Inc. increased its holdings in shares of KLX Energy Services by 532.0% during the third quarter. Raymond James Financial Inc. now owns 22,115 shares of the company’s stock valued at $42,000 after purchasing an additional 18,616 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of KLX Energy Services by 88.5% during the fourth quarter. Jane Street Group LLC now owns 30,605 shares of the company’s stock valued at $58,000 after purchasing an additional 14,373 shares during the period. 42.69% of the stock is currently owned by institutional investors and hedge funds.

About KLX Energy Services

KLX Energy Services is a provider of completion tools and pumping equipment for the upstream oil and gas sector, offering high-pressure pumping systems, pressure control equipment, solids control services and downhole rental tools. The company supports well completion and stimulation operations by supplying, installing and maintaining critical equipment used in hydraulic fracturing, coiled tubing interventions and associated wellsite activities.

The firm’s product portfolio includes deck-mounted and portable fracturing pumps, high-pressure manifolds, flowback and well testing units, filtration and separation systems, and wellsite automation solutions.