PHX Energy Services (TSE:PHX) Downgraded to “Hold” Rating by Atb Cap Markets

PHX Energy Services (TSE:PHX) was downgraded by research analysts at Atb Cap Markets from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Separately, ATB Capital cut shares of PHX Energy Services from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$9.50 to C$8.50 in a report on Thursday. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$8.50.

PHX Energy Services Trading Up 2.4%

PHX opened at C$7.38 on Wednesday. The company has a market cap of C$333.41 million, a price-to-earnings ratio of 6.47 and a beta of 1.20. The firm has a 50 day simple moving average of C$7.65 and a 200 day simple moving average of C$7.92. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.67 and a quick ratio of 1.25. PHX Energy Services has a fifty-two week low of C$6.64 and a fifty-two week high of C$10.10.

Insider Transactions at PHX Energy Services

In related news, insider Craig Brown sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of C$7.79, for a total transaction of C$584,250.00. Following the completion of the transaction, the insider owned 129,633 shares in the company, valued at approximately C$1,009,841.07. The trade was a 36.65% decrease in their ownership of the stock. Corporate insiders own 11.86% of the company’s stock.

About PHX Energy Services

PHX Energy Services Corp is a Canadian service provider company. It is principally engaged in providing horizontal and directional drilling services, as well as web-based remote electronic drilling recorder technology and services, to oil and natural gas exploration and development companies in Canada, United States, Albania, and Russia.