KLX Energy Services (NASDAQ:KLXE) Releases Earnings Results, Beats Expectations By $0.18 EPS

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 NASDAQ:KLXE opened at $1.55 on Wednesday. The firm has a market cap of $30.86 million, a price-to-earnings ratio of -0.49 and a beta of 0.85. The business has a 50-day simple moving average of $2.41 and a two-hundred day simple moving average of $2.67. KLX Energy Services has a fifty-two week low of $1.41 and a fifty-two week high of $4.50.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of KLX Energy Services in a research report on Friday, July 31st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, KLX Energy Services has a consensus rating of “Reduce”.

Institutional Trading of KLX Energy Services

Large investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. purchased a new stake in KLX Energy Services in the fourth quarter worth about $189,000. Gendell Jeffrey L lifted its position in shares of KLX Energy Services by 2.3% during the 4th quarter. Gendell Jeffrey L now owns 1,753,108 shares of the company’s stock valued at $3,313,000 after buying an additional 40,000 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of KLX Energy Services by 532.0% during the 3rd quarter. Raymond James Financial Inc. now owns 22,115 shares of the company’s stock valued at $42,000 after buying an additional 18,616 shares in the last quarter. Virtu Financial LLC bought a new position in shares of KLX Energy Services during the 3rd quarter valued at approximately $36,000. Finally, Boothbay Fund Management LLC bought a new position in shares of KLX Energy Services during the 2nd quarter valued at approximately $30,000. 42.69% of the stock is currently owned by institutional investors.

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.