PHX Energy Services (TSE:PHX) Stock Crosses Above Two Hundred Day Moving Average of $8.59

PHX Energy Services Corp. (TSE:PHX) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$8.59 and traded as high as C$8.95. PHX Energy Services shares last traded at C$8.82, with a volume of 37,032 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PHX. BMO Capital Markets reduced their price objective on PHX Energy Services from C$11.50 to C$11.00 in a research note on Wednesday, February 28th. ATB Capital raised their price target on PHX Energy Services from C$11.00 to C$12.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Stifel Nicolaus reduced their target price on shares of PHX Energy Services from C$12.50 to C$11.50 and set a “buy” rating for the company in a research note on Wednesday, January 10th.

PHX Energy Services Stock Up 2.6 %

The company has a current ratio of 1.83, a quick ratio of 1.25 and a debt-to-equity ratio of 21.32. The firm’s fifty day moving average price is C$9.15 and its 200-day moving average price is C$8.60. The company has a market cap of C$428.34 million, a price-to-earnings ratio of 4.62 and a beta of 2.38.

PHX Energy Services (TSE:PHX) last announced its quarterly earnings results on Tuesday, February 27th. The company reported C$0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.40 by C$0.28. PHX Energy Services had a return on equity of 50.97% and a net margin of 15.02%. The company had revenue of C$165.33 million during the quarter, compared to the consensus estimate of C$158.50 million. Sell-side analysts predict that PHX Energy Services Corp. will post 1.2851296 earnings per share for the current year.

PHX Energy Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 8.84%. The ex-dividend date was Wednesday, March 27th. PHX Energy Services’s payout ratio is currently 40.82%.

Insider Activity

In related news, Senior Officer John Michael Hooks sold 71,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of C$9.36, for a total value of C$672,048.00. In other PHX Energy Services news, Senior Officer John Michael Hooks sold 71,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of C$9.36, for a total transaction of C$672,048.00. Also, Senior Officer Michael Leslie Buker sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of C$8.97, for a total transaction of C$89,700.00. Insiders sold 139,200 shares of company stock worth $1,162,762 over the last quarter. 12.17% of the stock is currently owned by company insiders.

PHX Energy Services Company Profile

PHX Energy Services Corp. provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally. It offers Atlas motors; Velocity Real-Time Systems that provide downhole guidance systems; Echo system; PowerDrive Orbit RSS, a rotary steerable system; performance drilling motors; P-360 Positive Pulse MWD System, a measurement while drilling (MWD) tool; and E-360 EM MWD System, a MWD tool that transmits electric signals through geological formations.