KLX Energy Services (NASDAQ:KLXE) PT Lowered to $6.50 at Piper Sandler

KLX Energy Services (NASDAQ:KLXEFree Report) had its price target trimmed by Piper Sandler from $11.50 to $6.50 in a report issued on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

KLX Energy Services Trading Down 6.1 %

Shares of KLXE stock opened at $5.24 on Monday. The stock has a market capitalization of $88.40 million, a price-to-earnings ratio of -6.72 and a beta of 2.15. The company’s fifty day simple moving average is $6.96 and its two-hundred day simple moving average is $8.70. KLX Energy Services has a 1 year low of $5.22 and a 1 year high of $13.42. The company has a debt-to-equity ratio of 18.83, a current ratio of 1.72 and a quick ratio of 1.50.

KLX Energy Services (NASDAQ:KLXEGet Free Report) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.34). The company had revenue of $194.20 million for the quarter, compared to analysts’ expectations of $193.70 million. KLX Energy Services had a negative return on equity of 20.39% and a negative net margin of 1.51%. As a group, analysts anticipate that KLX Energy Services will post -1.91 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in KLX Energy Services by 4.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 63,422 shares of the company’s stock worth $752,000 after acquiring an additional 2,716 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of KLX Energy Services by 21.1% during the third quarter. Gamco Investors INC. ET AL now owns 23,000 shares of the company’s stock worth $273,000 after purchasing an additional 4,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in KLX Energy Services in the third quarter valued at approximately $238,000. Gendell Jeffrey L lifted its position in KLX Energy Services by 5.9% during the third quarter. Gendell Jeffrey L now owns 1,502,192 shares of the company’s stock valued at $17,801,000 after purchasing an additional 83,140 shares during the last quarter. Finally, Steamboat Capital Partners LLC grew its stake in KLX Energy Services by 1.9% in the 3rd quarter. Steamboat Capital Partners LLC now owns 168,916 shares of the company’s stock worth $2,002,000 after buying an additional 3,135 shares in the last quarter. 42.69% of the stock is currently owned by hedge funds and other institutional investors.

KLX Energy Services Company Profile

(Get Free Report)

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.

Further Reading

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