PHX Energy Services (TSE:PHX) Reaches New 52-Week High – Should You Buy?

PHX Energy Services Corp. (TSE:PHX) shares hit a new 52-week high during trading on Monday . The company traded as high as C$12.77 and last traded at C$12.70, with a volume of 62474 shares. The stock had previously closed at C$12.56.

Analyst Upgrades and Downgrades

Several research firms recently commented on PHX. BMO Capital Markets raised their target price on PHX Energy Services from C$8.50 to C$10.50 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. ATB Cormark Capital Markets upgraded PHX Energy Services from a “hold” rating to a “moderate buy” rating and upped their price objective for the stock from C$8.00 to C$11.75 in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$11.13.

PHX Energy Services Price Performance

The company has a current ratio of 1.88, a quick ratio of 1.25 and a debt-to-equity ratio of 29.22. The stock has a 50-day moving average price of C$8.82 and a 200 day moving average price of C$7.99. The stock has a market capitalization of C$578.44 million, a price-to-earnings ratio of 11.28 and a beta of 1.73.

PHX Energy Services (TSE:PHX) last released its quarterly earnings results on Tuesday, February 24th. The company reported C$0.35 earnings per share for the quarter. The company had revenue of C$183.89 million during the quarter. PHX Energy Services had a return on equity of 24.11% and a net margin of 7.71%. As a group, equities research analysts expect that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current year.

PHX Energy Services Company Profile

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. The services provided by the company includes directional drilling and motor rentals, survey management, gyro surveying and stream services. Geographically, the company operates in Canada, United States, and International.