KLX Energy Services (NASDAQ:KLXE) Shares Down 7.4% – Should You Sell?

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) dropped 7.4% during trading on Wednesday . The stock traded as low as $5.97 and last traded at $6.01. Approximately 86,914 shares were traded during trading, a decline of 31% from the average daily volume of 125,281 shares. The stock had previously closed at $6.49.

Analyst Ratings Changes

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

KLX Energy Services Stock Performance

The stock has a market capitalization of $101.50 million, a price-to-earnings ratio of -2.03 and a beta of 2.00. The firm has a fifty day moving average of $5.39 and a 200 day moving average of $5.58. The company has a debt-to-equity ratio of 105.76, a current ratio of 1.24 and a quick ratio of 1.08.

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

Hedge Funds Weigh In On KLX Energy Services

A number of hedge funds have recently bought and sold shares of KLXE. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 35,189 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of KLX Energy Services during the 1st quarter worth about $122,000. Allspring Global Investments Holdings LLC lifted its stake in KLX Energy Services by 89,460.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,956 shares of the company’s stock valued at $44,000 after buying an additional 8,946 shares in the last quarter. American Century Companies Inc. boosted its holdings in KLX Energy Services by 12.5% in the 2nd quarter. American Century Companies Inc. now owns 177,965 shares of the company’s stock worth $881,000 after buying an additional 19,744 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in KLX Energy Services by 90.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,215 shares of the company’s stock worth $130,000 after buying an additional 12,485 shares in the last quarter. Hedge funds and other institutional investors own 42.69% of the company’s stock.

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.