KLX Energy Services (NASDAQ:KLXE) Trading Down 2.7% - Here's What Happened

KLX Energy Services Holdings, Inc. (NASDAQ:KLXE - Get Free Report)'s share price dropped 2.7% on Tuesday . The company traded as low as $5.66 and last traded at $5.75. Approximately 35,355 shares changed hands during trading, a decline of 79% from the average daily volume of 166,995 shares. The stock had previously closed at $5.91.

Analyst Upgrades and Downgrades

Separately, Singular Research upgraded shares of KLX Energy Services to a "strong-buy" rating in a report on Monday, August 12th.

KLX Energy Services Price Performance

The stock has a market capitalization of $96.10 million, a P/E ratio of -1.94 and a beta of 2.12. The company has a debt-to-equity ratio of 105.76, a current ratio of 1.24 and a quick ratio of 1.08. The company's 50 day simple moving average is $5.39 and its two-hundred day simple moving average is $5.59.

KLX Energy Services (NASDAQ:KLXE - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.48) by $0.08. KLX Energy Services had a negative return on equity of 244.12% and a negative net margin of 6.45%. The business had revenue of $188.90 million during the quarter, compared to analysts' expectations of $181.60 million. As a group, equities analysts expect that KLX Energy Services Holdings, Inc. will post -2.79 EPS for the current fiscal year.

Hedge Funds Weigh In On KLX Energy Services

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in KLX Energy Services by 5.2% in the first quarter. Vanguard Group Inc. now owns 717,334 shares of the company's stock valued at $5,552,000 after acquiring an additional 35,189 shares during the period. Virtu Financial LLC bought a new stake in KLX Energy Services in the 1st quarter valued at $122,000. Allspring Global Investments Holdings LLC boosted 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 worth $44,000 after purchasing an additional 8,946 shares during the period. American Century Companies Inc. lifted its holdings in shares of KLX Energy Services by 12.5% in the second quarter. American Century Companies Inc. now owns 177,965 shares of the company's stock valued at $881,000 after purchasing an additional 19,744 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of KLX Energy Services by 90.9% during the second 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 during the period. Institutional investors and hedge funds 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.

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