KLX Energy Services (NASDAQ:KLXE) Posts Quarterly Earnings Results, Beats Estimates By $0.18 EPS

KLX Energy Services (NASDAQ:KLXE) released its quarterly earnings data on Monday. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.18, FiscalAI reports. The firm had revenue of $167.30 million during the quarter, compared to analysts’ expectations of $167.50 million.

KLX Energy Services Stock Performance

KLX Energy Services stock opened at $2.24 on Tuesday. The stock’s 50 day simple moving average is $2.44 and its two-hundred day simple moving average is $2.68. The stock has a market cap of $44.60 million, a price-to-earnings ratio of -0.59 and a beta of 0.85. KLX Energy Services has a fifty-two week low of $1.49 and a fifty-two week high of $4.50.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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 issued a Sell rating to the company. According to MarketBeat.com, KLX Energy Services has an average rating of “Reduce”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in KLX Energy Services by 6.2% in the fourth quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock worth $261,000 after purchasing an additional 8,100 shares during the period. Gamco Investors INC. ET AL lifted its position in KLX Energy Services by 52.2% during the third quarter. Gamco Investors INC. ET AL now owns 35,000 shares of the company’s stock valued at $67,000 after buying an additional 12,000 shares during the period. Jane Street Group LLC boosted its holdings in shares of 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 buying an additional 14,373 shares in the last quarter. Jain Global LLC bought a new stake in shares of KLX Energy Services during the 4th quarter valued at $29,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of KLX Energy Services in the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 42.69% of the company’s stock.

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.