KLX Energy Services (NASDAQ:KLXE) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

KLX Energy Services (NASDAQ:KLXE) issued its quarterly earnings results on Tuesday. The company reported ($1.18) earnings per share for the quarter, topping the consensus estimate of ($1.27) by $0.09, FiscalAI reports. The business had revenue of $144.70 million during the quarter, compared to analyst estimates of $146.50 million.

KLX Energy Services Trading Up 5.8%

KLX Energy Services stock traded up $0.21 during mid-day trading on Tuesday, hitting $3.86. The company had a trading volume of 181,115 shares, compared to its average volume of 275,206. KLX Energy Services has a 12-month low of $1.46 and a 12-month high of $4.07. The company’s fifty day moving average is $2.81 and its 200-day moving average is $2.29. The company has a market capitalization of $75.93 million, a price-to-earnings ratio of -0.92 and a beta of 0.85.

Institutional Investors Weigh In On KLX Energy Services

Several hedge funds have recently bought and sold shares of KLXE. Jain Global LLC purchased a new position in KLX Energy Services in the 4th quarter valued at $29,000. Boothbay Fund Management LLC purchased a new position in KLX Energy Services in the 2nd quarter valued at $30,000. Virtu Financial LLC purchased a new position in KLX Energy Services in the 3rd quarter valued at $36,000. Raymond James Financial Inc. lifted its holdings 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 purchasing an additional 18,616 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in KLX Energy Services by 88.5% in 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 in the last quarter. Hedge funds and other institutional investors own 42.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of KLX Energy Services in a report on Monday, May 4th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, KLX Energy Services 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.