KLX Energy Services (NASDAQ:KLXE) Trading Down 3.5% – Here’s What Happened

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE)’s stock price was down 3.5% during mid-day trading on Thursday . The stock traded as low as $4.96 and last traded at $4.97. Approximately 7,222 shares were traded during trading, a decline of 96% from the average daily volume of 165,317 shares. The stock had previously closed at $5.15.

KLX Energy Services Stock Performance

The business has a 50 day moving average price of $5.30 and a 200 day moving average price of $5.57. The stock has a market cap of $81.27 million, a P/E ratio of -1.63 and a beta of 2.12. The company has a quick ratio of 1.08, a current ratio of 1.24 and a debt-to-equity ratio of 105.76.

KLX Energy Services (NASDAQ:KLXE) last posted its earnings results on Thursday, October 31st. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.08. The firm 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, sell-side analysts expect that KLX Energy Services Holdings, Inc. will post -2.83 EPS for the current year.

Hedge Funds Weigh In On KLX Energy Services

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in KLX Energy Services by 5.2% during the first quarter. Vanguard Group Inc. now owns 717,334 shares of the company’s stock worth $5,552,000 after buying an additional 35,189 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of KLX Energy Services by 89,460.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,956 shares of the company’s stock worth $44,000 after acquiring an additional 8,946 shares in the last quarter. American Century Companies Inc. grew its position in shares of KLX Energy Services by 12.5% during the 2nd quarter. American Century Companies Inc. now owns 177,965 shares of the company’s stock valued at $881,000 after acquiring an additional 19,744 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of 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 purchasing an additional 12,485 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in KLX Energy Services in the 2nd quarter worth about $156,000. 42.69% of the stock is owned by hedge funds and other institutional investors.

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.