PHX Energy Services (TSE:PHX) Price Target Cut to C$11.75 by Analysts at ATB Capital

PHX Energy Services (TSE:PHX) had its target price reduced by equities research analysts at ATB Capital from C$12.25 to C$11.75 in a research report issued on Tuesday, BayStreet.CA reports. ATB Capital’s price objective suggests a potential upside of 23.68% from the company’s previous close.

PHX Energy Services Price Performance

TSE:PHX opened at C$9.50 on Tuesday. PHX Energy Services has a 52 week low of C$7.00 and a 52 week high of C$10.70. The company has a debt-to-equity ratio of 20.51, a quick ratio of 1.25 and a current ratio of 1.62. The firm’s 50-day simple moving average is C$9.68 and its 200 day simple moving average is C$9.41. The firm has a market cap of C$442.04 million, a price-to-earnings ratio of 5.19 and a beta of 2.32.

PHX Energy Services (TSE:PHX) last announced its earnings results on Tuesday, August 6th. The company reported C$0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.20 by C$0.06. PHX Energy Services had a net margin of 13.50% and a return on equity of 42.04%. The firm had revenue of C$154.23 million for the quarter, compared to analyst estimates of C$149.00 million. As a group, sell-side analysts predict that PHX Energy Services will post 1.2397516 earnings per share for the current year.

Insider Buying and Selling

In related news, Senior Officer Michael Leslie Buker sold 4,900 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of C$10.03, for a total transaction of C$49,147.00. In other PHX Energy Services news, 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 transaction of C$49,147.00. Also, Senior Officer John Michael Hooks sold 58,300 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$9.16, for a total value of C$533,998.85. 11.86% of the stock is owned by company insiders.

About PHX Energy Services

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.