KLX Energy Services (NASDAQ:KLXE) Trading 0.5% Higher – Here’s Why

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE)’s share price shot up 0.5% during mid-day trading on Wednesday . The stock traded as high as $5.68 and last traded at $5.68. 8,681 shares traded hands during trading, a decline of 95% from the average session volume of 166,717 shares. The stock had previously closed at $5.65.

Analyst Upgrades and Downgrades

Separately, Singular Research raised KLX Energy Services to a “strong-buy” rating in a report on Monday, August 12th.

KLX Energy Services Stock Down 3.7 %

The company has a debt-to-equity ratio of 105.76, a current ratio of 1.24 and a quick ratio of 1.08. The stock has a market capitalization of $91.72 million, a PE ratio of -1.92 and a beta of 2.12. The company has a 50 day moving average price of $5.38 and a 200-day moving average price of $5.58.

KLX Energy Services (NASDAQ:KLXE) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.08. The firm had revenue of $188.90 million for the quarter, compared to the consensus estimate of $181.60 million. KLX Energy Services had a negative return on equity of 244.12% and a negative net margin of 6.45%. As a group, analysts forecast that KLX Energy Services Holdings, Inc. will post -2.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KLX Energy Services

Several hedge funds and other institutional investors have recently modified their holdings of KLXE. Vanguard Group Inc. boosted its position in shares of KLX Energy Services by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 717,334 shares of the company’s stock worth $5,552,000 after purchasing an additional 35,189 shares in the last quarter. American Century Companies Inc. increased its stake in shares of KLX Energy Services by 12.5% in the 2nd quarter. American Century Companies Inc. now owns 177,965 shares of the company’s stock valued at $881,000 after purchasing an additional 19,744 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of KLX Energy Services by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 160,342 shares of the company’s stock valued at $877,000 after purchasing an additional 7,328 shares in the last quarter. Clifford Capital Partners LLC increased its stake in KLX Energy Services by 13.7% during the 3rd quarter. Clifford Capital Partners LLC now owns 79,985 shares of the company’s stock worth $438,000 after buying an additional 9,638 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in KLX Energy Services during the 2nd quarter worth approximately $156,000. 42.69% of the stock is currently owned by hedge funds and other institutional investors.

About KLX Energy Services

KLX Energy Services Holdings, Inc provides drilling, completions, production, and well intervention services and products to the onshore oil and gas producing regions of the United States. The company operates through three segments: Southwest, Rocky Mountains, and Northeast/Mid-Con. It provides directional drilling services; downhole navigational and rental tools businesses and support services, including well planning, site supervision, accommodation rentals, and other drilling rentals; and various technologies, including gamma ray, azimuthal gamma ray, real-time continuous inclination and azimuth, rotary steerable, pressure-while-drilling, mode shifting, stick-slip and destructive dynamics, dynamic sequencing and real-time shock, and vibration modules.