KLX Energy Services (NASDAQ:KLXE) Announces Earnings Results

KLX Energy Services (NASDAQ:KLXE) posted its quarterly earnings data on Tuesday. The company reported ($1.18) EPS for the quarter, topping analysts’ consensus estimates of ($1.27) by $0.09, FiscalAI reports. The business had revenue of $144.70 million during the quarter, compared to analyst estimates of $146.50 million.

KLX Energy Services Stock Down 2.9%

Shares of KLXE stock traded down $0.13 during trading hours on Thursday, hitting $4.15. 283,556 shares of the company’s stock traded hands, compared to its average volume of 281,883. The stock’s 50 day simple moving average is $2.86 and its 200 day simple moving average is $2.33. The stock has a market cap of $81.53 million, a PE ratio of -1.09 and a beta of 0.85. KLX Energy Services has a 12 month low of $1.46 and a 12 month high of $4.50.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of KLX Energy Services in a report on Monday, May 4th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of KLXE. Adage Capital Partners GP L.L.C. acquired a new position in KLX Energy Services during the 4th quarter valued at about $189,000. Gendell Jeffrey L boosted its stake in shares of KLX Energy Services by 2.3% in the 4th quarter. Gendell Jeffrey L now owns 1,753,108 shares of the company’s stock worth $3,313,000 after buying an additional 40,000 shares during the last quarter. Raymond James Financial Inc. boosted its position in KLX Energy Services by 532.0% in the third quarter. Raymond James Financial Inc. now owns 22,115 shares of the company’s stock worth $42,000 after purchasing an additional 18,616 shares during the last quarter. Virtu Financial LLC bought a new position in KLX Energy Services during the third quarter valued at about $36,000. Finally, Boothbay Fund Management LLC purchased a new position in KLX Energy Services in the second quarter valued at approximately $30,000. Institutional investors and hedge funds own 42.69% of the company’s stock.

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.