KLX Energy Services (NASDAQ:KLXE) Trading Down 2.9% – Here’s What Happened

Shares of KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) were down 2.9% during trading on Tuesday . The stock traded as low as $6.15 and last traded at $6.30. Approximately 7,336 shares traded hands during trading, a decline of 96% from the average daily volume of 168,523 shares. The stock had previously closed at $6.49.

Analysts Set New Price Targets

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

KLX Energy Services Stock Up 0.2 %

The company has a current ratio of 1.24, a quick ratio of 1.08 and a debt-to-equity ratio of 105.76. The stock’s 50-day moving average price is $5.39 and its 200-day moving average price is $5.58. The company has a market cap of $101.50 million, a P/E ratio of -2.03 and a beta of 2.00.

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, topping the consensus estimate of ($0.48) by $0.08. The business had revenue of $188.90 million for the quarter, compared to analyst estimates 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, research analysts forecast that KLX Energy Services Holdings, Inc. will post -2.79 EPS for the current year.

Institutional Trading of KLX Energy Services

Hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC bought a new position in shares of KLX Energy Services in the third quarter valued at $58,000. Dimensional Fund Advisors LP lifted its position in KLX Energy Services by 90.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,215 shares of the company’s stock valued at $130,000 after acquiring an additional 12,485 shares in the last quarter. Vanguard Group Inc. boosted its stake in KLX Energy Services by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 717,334 shares of the company’s stock valued at $5,552,000 after purchasing an additional 35,189 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in KLX Energy Services during the 2nd quarter worth approximately $156,000. Finally, Virtu Financial LLC purchased a new stake in shares of KLX Energy Services in the first quarter worth approximately $122,000. Institutional investors and hedge funds own 42.69% of the company’s stock.

KLX Energy Services Company Profile

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.