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Lehner Keefer McGovern, the Executive Vice President and Chief Financial Officer of KLX Energy Services Holdings, Inc. (NASDAQ:KLXE), reported selling 500 shares of the company’s common stock. The energy services provider, currently valued at $76 million, has shown significant stock price volatility according to InvestingPro data. The transaction, which took place on March 7, 2025, was executed at a weighted average price of $5.04 per share, totaling $2,520. The sale was conducted under a Rule 10b5-1 trading plan established on September 26, 2024, for tax and estate planning purposes. The stock has declined over 40% in the past year, with the company scheduled to report earnings on March 13. Following the transaction, McGovern holds 119,201 shares of KLX Energy. InvestingPro analysis reveals concerning profitability metrics, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US stocks.
In other recent news, KLX Energy Services Holdings, Inc. announced its plan to redeem its 11.500% Senior Secured Notes due in 2025. The redemption is contingent upon the company successfully completing a debt financing transaction before March 30, 2025. This transaction must generate sufficient net proceeds to cover the redemption price for all outstanding notes. The redemption price is set at 100.000% of the principal amount, plus any accrued and unpaid interest. KLX Energy Services’ decision to proceed with this redemption is part of its strategic financial management to optimize its capital structure. The announcement was made via a press release and reflects the company’s commitment to regulatory compliance and transparency in its financial practices. The executive team, led by Executive Vice President Max L. Bouthillette, authorized the report. These developments highlight KLX Energy Services’ ongoing efforts to manage its financial obligations effectively.
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