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

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

KLX Energy Services Price Performance

NASDAQ KLXE traded down $0.36 on Thursday, reaching $2.59. 116,989 shares of the company’s stock traded hands, compared to its average volume of 244,404. The stock has a market cap of $46.17 million, a PE ratio of -0.60 and a beta of 0.40. KLX Energy Services has a 12 month low of $1.46 and a 12 month high of $4.84. The stock has a 50-day simple moving average of $2.44 and a 200 day simple moving average of $2.02.

Insider Buying and Selling at KLX Energy Services

In related news, insider Max Bouthillette purchased 16,500 shares of KLX Energy Services stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average cost of $1.67 per share, for a total transaction of $27,555.00. Following the transaction, the insider directly owned 142,865 shares in the company, valued at $238,584.55. The trade was a 13.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.27% of the company’s stock.

Institutional Trading of KLX Energy Services

A number of institutional investors have recently modified their holdings of the company. Boothbay Fund Management LLC purchased a new position in KLX Energy Services during the 2nd quarter valued at about $30,000. Gamco Investors INC. ET AL lifted its stake in 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 worth $67,000 after acquiring an additional 12,000 shares during the period. Virtu Financial LLC purchased a new stake in KLX Energy Services in the third quarter worth $36,000. Raymond James Financial Inc. boosted 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 valued at $42,000 after acquiring an additional 18,616 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in KLX Energy Services by 6.2% during the 4th quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock valued at $261,000 after purchasing an additional 8,100 shares during the period. 42.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on KLXE. Zacks Research raised shares of KLX Energy Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Wall Street Zen raised shares of KLX Energy Services to a “hold” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of KLX Energy Services in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.