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

KLX Energy Services (NASDAQ:KLXE) posted its earnings results on Monday. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.82) by $0.18, FiscalAI reports. The business had revenue of $167.30 million during the quarter, compared to the consensus estimate of $167.50 million.

KLX Energy Services Stock Up 8.7%

Shares of NASDAQ:KLXE traded up $0.18 on Monday, hitting $2.24. The company had a trading volume of 396,474 shares, compared to its average volume of 278,898. The firm’s 50-day simple moving average is $2.45 and its two-hundred day simple moving average is $2.68. The firm has a market capitalization of $44.60 million, a price-to-earnings ratio of -0.59 and a beta of 0.85. KLX Energy Services has a 1 year low of $1.49 and a 1 year high of $4.50.

Hedge Funds Weigh In On KLX Energy Services

Institutional investors have recently bought and sold shares of the stock. Jain Global LLC bought a new stake in KLX Energy Services during the 4th quarter valued at approximately $29,000. Boothbay Fund Management LLC purchased a new position in shares of KLX Energy Services during the 2nd quarter worth approximately $30,000. Virtu Financial LLC bought a new position in shares of KLX Energy Services in the 3rd quarter worth approximately $36,000. Raymond James Financial Inc. lifted its stake in shares of 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 during the period. Finally, Jane Street Group LLC lifted its stake in shares of 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 during the period. 42.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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 given a Sell rating to the stock. Based on data from MarketBeat.com, KLX Energy Services presently has an average rating of “Reduce”.

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.