PHX Energy Services (TSE:PHX) Share Price Passes Above Two Hundred Day Moving Average of $8.45

PHX Energy Services Corp. (TSE:PHX)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$8.45 and traded as high as C$9.22. PHX Energy Services shares last traded at C$9.13, with a volume of 94,081 shares trading hands.

Analyst Ratings Changes

PHX has been the subject of several research analyst reports. BMO Capital Markets cut their price objective on PHX Energy Services from C$11.50 to C$11.00 in a research report on Wednesday, February 28th. ATB Capital upped their price target on shares of PHX Energy Services from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Stifel Nicolaus reduced their price objective 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 Performance

The firm has a fifty day moving average of C$9.16 and a 200-day moving average of C$8.45. The company has a quick ratio of 1.25, a current ratio of 1.83 and a debt-to-equity ratio of 21.32. The stock has a market capitalization of C$432.12 million, a price-to-earnings ratio of 4.66 and a beta of 2.38.

PHX Energy Services (TSE:PHX) last released 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. The business had revenue of C$165.33 million during the quarter, compared to the consensus estimate of C$158.50 million. PHX Energy Services had a return on equity of 50.97% and a net margin of 15.02%. As a group, sell-side analysts anticipate that PHX Energy Services Corp. will post 1.2797784 EPS for the current year.

PHX Energy Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.76%. PHX Energy Services’s dividend payout ratio (DPR) is 40.82%.

Insider Activity at PHX Energy Services

In other PHX Energy Services news, Senior Officer Craig Brown sold 28,600 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$9.01, for a total transaction of C$257,631.66. In related news, Senior Officer Jeffery John Shafer sold 18,300 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of C$2.74, for a total transaction of C$50,142.00. Also, Senior Officer Craig Brown sold 28,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$9.01, for a total transaction of C$257,631.66. In the last 90 days, insiders have sold 67,400 shares of company stock valued at $490,714. 12.74% of the stock is owned by corporate insiders.

About PHX Energy Services

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