KLX Energy Services (NASDAQ:KLXE) Releases Earnings Results, Beats Expectations By $0.09 EPS

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

KLX Energy Services Price Performance

Shares of NASDAQ:KLXE traded up $0.51 during trading on Wednesday, reaching $4.37. 465,000 shares of the company’s stock traded hands, compared to its average volume of 276,825. KLX Energy Services has a 12 month low of $1.46 and a 12 month high of $4.48. The company has a 50 day moving average of $2.83 and a 200-day moving average of $2.31. The stock has a market capitalization of $86.04 million, a P/E ratio of -1.05 and a beta of 0.85.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KLX Energy Services in a research report on Monday, May 4th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, KLX Energy Services presently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On KLX Energy Services

Institutional investors have recently modified their holdings of the business. Boothbay Fund Management LLC bought a new position in KLX Energy Services in the 2nd quarter worth about $30,000. Gamco Investors INC. ET AL grew its position in KLX Energy Services by 52.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 35,000 shares of the company’s stock worth $67,000 after purchasing an additional 12,000 shares during the last quarter. Virtu Financial LLC bought a new position in KLX Energy Services in the 3rd quarter worth about $36,000. Raymond James Financial Inc. grew 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 worth $42,000 after purchasing an additional 18,616 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in KLX Energy Services by 6.2% in the 4th 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 last quarter. Institutional investors own 42.69% of the company’s stock.

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.