KLX Energy Services (NASDAQ:KLXE) Coverage Initiated at R. F. Lafferty

Equities research analysts at R. F. Lafferty initiated coverage on shares of KLX Energy Services (NASDAQ:KLXE) in a report issued on Wednesday, The Fly reports. The brokerage set a “buy” rating on the stock.

KLXE has been the subject of a number of other reports. SunTrust Banks began coverage on KLX Energy Services in a research report on Thursday, December 26th. They issued a “buy” rating for the company. ValuEngine upgraded KLX Energy Services from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Finally, Zacks Investment Research downgraded KLX Energy Services from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $26.75.

KLX Energy Services stock traded down $0.25 during trading hours on Wednesday, hitting $4.45. 8,337 shares of the company traded hands, compared to its average volume of 275,068. The firm has a market cap of $116.11 million, a P/E ratio of -1.54 and a beta of 0.73. The company has a quick ratio of 3.21, a current ratio of 3.38 and a debt-to-equity ratio of 0.74. The firm’s 50-day simple moving average is $5.93 and its two-hundred day simple moving average is $9.57. KLX Energy Services has a 1-year low of $4.12 and a 1-year high of $30.11.

KLX Energy Services (NASDAQ:KLXE) last released its quarterly earnings results on Thursday, December 5th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $161.20 million. The business’s revenue for the quarter was down 18.4% on a year-over-year basis. On average, equities research analysts predict that KLX Energy Services will post -1.22 earnings per share for the current year.

In other KLX Energy Services news, VP Gary J. Roberts acquired 6,028 shares of KLX Energy Services stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $5.98 per share, for a total transaction of $36,047.44. Following the transaction, the vice president now owns 255,643 shares in the company, valued at approximately $1,528,745.14. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas P. Mccaffrey acquired 75,000 shares of KLX Energy Services stock in a transaction dated Friday, December 6th. The shares were acquired at an average price of $5.53 per share, with a total value of $414,750.00. Following the transaction, the chief financial officer now owns 872,487 shares in the company, valued at approximately $4,824,853.11. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 81,328 shares of company stock worth $452,297. 10.70% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in KLX Energy Services by 3.1% during the second quarter. BlackRock Inc. now owns 3,331,327 shares of the company’s stock worth $68,059,000 after buying an additional 101,672 shares in the last quarter. Paradice Investment Management LLC boosted its stake in shares of KLX Energy Services by 1.8% during the 3rd quarter. Paradice Investment Management LLC now owns 1,819,742 shares of the company’s stock worth $15,732,000 after acquiring an additional 32,673 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of KLX Energy Services by 4.4% in the 2nd quarter. Macquarie Group Ltd. now owns 764,210 shares of the company’s stock worth $15,613,000 after acquiring an additional 32,523 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of KLX Energy Services by 24.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 540,355 shares of the company’s stock worth $4,671,000 after acquiring an additional 106,775 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of KLX Energy Services by 68.8% during the third quarter. Russell Investments Group Ltd. now owns 349,321 shares of the company’s stock worth $3,021,000 after purchasing an additional 142,390 shares during the period. 84.89% of the stock is owned by institutional investors and hedge funds.

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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