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

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

KLX Energy Services Stock Performance

Shares of KLX Energy Services stock traded up $0.18 during midday trading on Monday, hitting $2.24. The company had a trading volume of 396,474 shares, compared to its average volume of 278,898. KLX Energy Services has a 52-week low of $1.49 and a 52-week high of $4.50. The stock has a market capitalization of $44.60 million, a P/E ratio of -0.59 and a beta of 0.85. The company has a 50 day moving average of $2.45 and a 200 day moving average of $2.68.

Institutional Investors Weigh In On KLX Energy Services

Several hedge funds have recently added to or reduced their stakes in KLXE. Jain Global LLC purchased a new stake in shares of KLX Energy Services in the fourth quarter worth $29,000. Boothbay Fund Management LLC purchased a new position in shares of KLX Energy Services in the 2nd quarter worth about $30,000. Virtu Financial LLC bought a new position in KLX Energy Services in the 3rd quarter worth about $36,000. Raymond James Financial Inc. boosted its stake in KLX Energy Services by 532.0% in the 3rd 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 in the last quarter. Finally, Jane Street Group LLC grew its position in KLX Energy Services by 88.5% during the 4th 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 last quarter. 42.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of KLX Energy Services in a research note on Friday, July 31st. One equities research 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 currently has a consensus 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.