KLX Energy Services (NASDAQ:KLXE) Announces Earnings Results, Beats Estimates By $0.09 EPS

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

KLX Energy Services Price Performance

NASDAQ:KLXE traded up $0.21 during trading hours on Tuesday, reaching $3.86. The company’s stock had a trading volume of 181,115 shares, compared to its average volume of 275,206. The company has a market cap of $75.93 million, a price-to-earnings ratio of -0.92 and a beta of 0.85. The business’s 50-day moving average is $2.81 and its 200-day moving average is $2.29. KLX Energy Services has a one year low of $1.46 and a one year high of $4.07.

Institutional Investors Weigh In On KLX Energy Services

A number of hedge funds have recently bought and sold shares of the company. Gendell Jeffrey L boosted its position in shares of KLX Energy Services by 2.3% in the fourth quarter. Gendell Jeffrey L now owns 1,753,108 shares of the company’s stock valued at $3,313,000 after acquiring an additional 40,000 shares during the period. Renaissance Technologies LLC boosted its position in shares of KLX Energy Services by 6.2% in the fourth quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock valued at $261,000 after acquiring an additional 8,100 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of KLX Energy Services in the fourth quarter valued at approximately $189,000. Gamco Investors INC. ET AL boosted its position in shares of KLX Energy Services by 52.2% in the third quarter. Gamco Investors INC. ET AL now owns 35,000 shares of the company’s stock valued at $67,000 after acquiring an additional 12,000 shares during the period. Finally, Jane Street Group LLC lifted its stake in shares of KLX Energy Services by 88.5% in the fourth quarter. Jane Street Group LLC now owns 30,605 shares of the company’s stock valued at $58,000 after buying an additional 14,373 shares during the period. 42.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of KLX Energy Services in a research note on Monday, May 4th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce”.

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.