PHX Energy Services (TSE:PHX) Receives Outperform Rating from ATB Capital

PHX Energy Services (TSE:PHX)‘s stock had its “outperform” rating restated by analysts at ATB Capital in a report released on Thursday, Stock Target Advisor reports.

Separately, BMO Capital Markets lifted their price target on PHX Energy Services from C$5.50 to C$6.25 and gave the company a “market perform” rating in a research note on Thursday, August 5th.

PHX stock traded down C$0.06 during mid-day trading on Thursday, reaching C$5.27. 28,436 shares of the company traded hands, compared to its average volume of 88,218. The stock has a market cap of C$261.41 million and a price-to-earnings ratio of 27.59. The company has a quick ratio of 1.41, a current ratio of 2.02 and a debt-to-equity ratio of 28.07. PHX Energy Services has a fifty-two week low of C$1.42 and a fifty-two week high of C$5.70. The firm’s 50 day moving average price is C$4.57 and its 200 day moving average price is C$4.05.

PHX Energy Services (TSE:PHX) last released its quarterly earnings results on Wednesday, August 4th. The company reported C$0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.05. The company had revenue of C$75.77 million for the quarter, compared to analyst estimates of C$68.00 million. On average, analysts anticipate that PHX Energy Services will post 0.5319962 EPS for the current fiscal year.

In other PHX Energy Services news, insider PHX Energy Services Corp bought 500,000 shares of the business’s stock in a transaction dated Monday, August 16th. The shares were purchased at an average price of C$4.50 per share, for a total transaction of C$2,250,000.00. Following the purchase, the insider now directly owns 500,000 shares of the company’s stock, valued at C$2,250,000. Also, Senior Officer Michael Leslie Buker sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 17th. The stock was sold at an average price of C$4.53, for a total value of C$45,300.00. Following the completion of the transaction, the insider now owns 148,900 shares in the company, valued at approximately C$674,517. Insiders sold a total of 24,000 shares of company stock worth $108,864 in the last 90 days.

About PHX Energy Services

PHX Energy Services Corp. provides horizontal and directional drilling technology and services to oil and natural gas exploration and development, and production companies in Canada, the United States, Russia, and Albania. It offers Velocity Real-Time System, a ground-breaking technology that offers downhole guidance systems; Atlas Motors, a high performance drilling 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.

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