KLX Energy Services (NASDAQ:KLXE) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of KLX Energy Services (NASDAQ:KLXE) from a sell rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “KLX Energy Services Holdings Inc. provides oilfield services focused on completion, intervention and production activities for the wells. The company’s shale basins primarily include the Permian, Eagle Ford, Rockies, Bakken, Marcellus, Utica and MidCon. KLX Energy Services Holdings Inc. is based in FL, United States. “

Several other brokerages also recently weighed in on KLXE. ValuEngine raised KLX Energy Services from a hold rating to a buy rating in a report on Friday, January 3rd. SunTrust Banks initiated coverage on KLX Energy Services in a report on Thursday, December 26th. They set a buy rating for the company. Finally, R. F. Lafferty initiated coverage on KLX Energy Services in a report on Wednesday, January 22nd. They set a buy rating for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $26.75.

Shares of NASDAQ KLXE opened at $3.34 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.38 and a quick ratio of 3.21. The stock has a fifty day moving average price of $4.93 and a 200 day moving average price of $8.02. KLX Energy Services has a 1-year low of $3.20 and a 1-year high of $30.11. The company has a market cap of $78.29 million, a PE ratio of -1.14 and a beta of 0.81.

KLX Energy Services (NASDAQ:KLXE) last issued its quarterly earnings results on Thursday, December 5th. The company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.28). KLX Energy Services had a positive return on equity of 4.13% and a negative net margin of 11.27%. The company had revenue of $134.50 million for the quarter, compared to analyst estimates of $161.20 million. The firm’s revenue was down 18.4% compared to the same quarter last year. Analysts anticipate that KLX Energy Services will post -1.22 earnings per share for the current fiscal year.

In other KLX Energy Services news, VP Gary J. Roberts bought 6,028 shares of KLX Energy Services stock in a transaction on Friday, December 6th. The stock was bought at an average price of $5.98 per share, with a total value of $36,047.44. Following the completion of the acquisition, the vice president now owns 255,643 shares in the company, valued at $1,528,745.14. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas P. Mccaffrey bought 75,000 shares of KLX Energy Services stock in a transaction on Friday, December 6th. The stock was acquired at an average cost of $5.53 per share, with a total value of $414,750.00. Following the acquisition, the chief financial officer now owns 872,487 shares of the company’s stock, valued at approximately $4,824,853.11. The disclosure for this purchase can be found here. In the last three months, insiders acquired 81,328 shares of company stock valued at $452,297. 10.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC lifted its holdings in KLX Energy Services by 13.3% in the third quarter. Squarepoint Ops LLC now owns 24,912 shares of the company’s stock valued at $215,000 after acquiring an additional 2,926 shares during the period. Rhumbline Advisers increased its position in shares of KLX Energy Services by 4.8% in the third quarter. Rhumbline Advisers now owns 69,355 shares of the company’s stock valued at $600,000 after buying an additional 3,157 shares in the last quarter. California Public Employees Retirement System increased its position in shares of KLX Energy Services by 12.9% in the third quarter. California Public Employees Retirement System now owns 37,592 shares of the company’s stock valued at $325,000 after buying an additional 4,292 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of KLX Energy Services by 1,566.0% in the third quarter. Tower Research Capital LLC TRC now owns 5,631 shares of the company’s stock valued at $48,000 after buying an additional 5,293 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY purchased a new position in shares of KLX Energy Services in the first quarter valued at $163,000. 84.17% of the stock is owned by institutional investors.

KLX Energy Services Company Profile

KLX Energy Services Holdings, Inc provides completion, intervention, and production services and products to the onshore oil and gas producing regions of the United States. It offers a range of technical services, and related tools and equipment to companies engaged in the exploration and development of North American onshore conventional and unconventional oil and natural gas reserves.

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