PHX Energy Services (TSE:PHX) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

PHX Energy Services Corp. (TSE:PHX)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.46 and traded as high as C$9.79. PHX Energy Services shares last traded at C$9.76, with a volume of 38,463 shares.

Wall Street Analyst Weigh In

Separately, ATB Capital decreased their target price on PHX Energy Services from C$11.75 to C$11.50 in a report on Thursday, November 7th.

PHX Energy Services Price Performance

The company has a market capitalization of C$454.13 million, a price-to-earnings ratio of 5.33 and a beta of 2.32. The stock has a fifty day simple moving average of C$9.52 and a 200-day simple moving average of C$9.46. The company has a debt-to-equity ratio of 20.51, a current ratio of 1.62 and a quick ratio of 1.25.

PHX Energy Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 8.20%. The ex-dividend date of this dividend was Friday, September 27th. PHX Energy Services’s payout ratio is presently 43.72%.

Insider Buying and Selling at PHX Energy Services

In other news, Senior Officer Cameron Michael Ritchie sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of C$9.85, for a total value of C$492,250.00. Also, Senior Officer Michael Leslie Buker sold 4,900 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of C$10.03, for a total value of C$49,147.00. Over the last ninety days, insiders sold 113,200 shares of company stock valued at $1,075,396. 11.86% of the stock is 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.