KLX Energy Services (NASDAQ:KLXE) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

KLX Energy Services (NASDAQ:KLXE) released its quarterly earnings data on Wednesday. The company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.04, Zacks reports. The business had revenue of $156.80 million during the quarter, compared to analyst estimates of $157.70 million.

KLX Energy Services Trading Down 10.5%

KLX Energy Services stock traded down $0.31 during midday trading on Thursday, reaching $2.64. 129,452 shares of the stock traded hands, compared to its average volume of 244,404. The firm has a fifty day moving average price of $2.44 and a two-hundred day moving average price of $2.02. The firm has a market cap of $47.10 million, a price-to-earnings ratio of -0.61 and a beta of 0.40. KLX Energy Services has a fifty-two week low of $1.46 and a fifty-two week high of $4.84.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Zacks Research upgraded shares of KLX Energy Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of KLX Energy Services in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded KLX Energy Services to a “hold” rating in a research note on Saturday, December 13th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, KLX Energy Services presently has an average rating of “Reduce”.

Insider Activity at KLX Energy Services

In other KLX Energy Services news, insider Max Bouthillette purchased 16,500 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were bought at an average price of $1.67 per share, with a total value of $27,555.00. Following the completion of the acquisition, the insider owned 142,865 shares in the company, valued at approximately $238,584.55. This represents a 13.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.27% of the company’s stock.

Institutional Trading of KLX Energy Services

Several large investors have recently added to or reduced their stakes in KLXE. Adage Capital Partners GP L.L.C. acquired a new position in KLX Energy Services during the 4th quarter worth $189,000. Gendell Jeffrey L lifted its holdings in KLX Energy Services by 2.3% in the fourth quarter. Gendell Jeffrey L now owns 1,753,108 shares of the company’s stock worth $3,313,000 after purchasing an additional 40,000 shares during the period. Raymond James Financial Inc. lifted its holdings 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 period. Virtu Financial LLC bought a new position in KLX Energy Services in the 3rd quarter valued at about $36,000. Finally, Boothbay Fund Management LLC bought a new position in KLX Energy Services in the 2nd quarter valued at about $30,000. 42.69% of the stock is currently owned by institutional investors and hedge funds.

KLX Energy Services Company Profile

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.