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

KLX Energy Services (NASDAQ:KLXE) released its quarterly earnings results on Wednesday. The company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.04, Zacks reports. The company had revenue of $156.80 million during the quarter, compared to the consensus estimate of $157.70 million.

KLX Energy Services Stock Performance

Shares of KLXE traded up $0.36 during mid-day trading on Friday, reaching $3.03. The company had a trading volume of 95,537 shares, compared to its average volume of 254,904. The company’s 50 day simple moving average is $2.45 and its 200 day simple moving average is $2.02. The company has a market capitalization of $54.04 million, a price-to-earnings ratio of -0.73 and a beta of 0.40. KLX Energy Services has a 1-year low of $1.46 and a 1-year high of $4.49.

Analysts Set New Price Targets

A number of brokerages have commented on KLXE. Wall Street Zen raised KLX Energy Services to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings restated a “sell (e+)” rating on shares of KLX Energy Services in a research note on Thursday, January 22nd. Finally, 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. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, KLX Energy Services presently has an average rating of “Reduce”.

Insider Buying and Selling

In related news, insider Max Bouthillette bought 16,500 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were purchased at an average price of $1.67 per share, with a total value of $27,555.00. Following the completion of the purchase, the insider owned 142,865 shares in the company, valued at $238,584.55. This represents a 13.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 5.27% of the stock is currently owned by insiders.

Institutional Trading of KLX Energy Services

A number of hedge funds have recently made changes to their positions in the company. Jain Global LLC acquired a new position in shares of KLX Energy Services in the fourth quarter valued at approximately $29,000. Boothbay Fund Management LLC bought a new stake in KLX Energy Services during the 2nd quarter worth approximately $30,000. Virtu Financial LLC acquired a new position in KLX Energy Services in the 3rd quarter valued at approximately $36,000. Raymond James Financial Inc. increased its position 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 valued at $42,000 after acquiring an additional 18,616 shares during the period. Finally, Jane Street Group LLC raised its stake 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 acquiring an additional 14,373 shares during the last quarter. 42.69% of the stock is 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.