PHX Energy Services (TSE:PHX) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

PHX Energy Services Corp. (TSE:PHX) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$9.29 and traded as high as C$12.57. PHX Energy Services shares last traded at C$12.49, with a volume of 384,274 shares traded.

Analyst Upgrades and Downgrades

PHX has been the topic of several analyst reports. ATB Cormark Capital Markets upgraded PHX Energy Services from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$8.00 to C$11.75 in a report on Wednesday, February 25th. BMO Capital Markets upped 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. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$11.13.

PHX Energy Services Stock Up 1.5%

The company has a quick ratio of 1.25, a current ratio of 1.88 and a debt-to-equity ratio of 29.22. The firm has a 50 day simple moving average of C$12.22 and a 200-day simple moving average of C$9.29. The stock has a market cap of C$566.65 million, a P/E ratio of 11.05 and a beta of 1.17.

PHX Energy Services (TSE:PHX) last posted its earnings results on Wednesday, February 25th. The company reported C$0.35 EPS for the quarter. PHX Energy Services had a return on equity of 24.11% and a net margin of 7.71%.The company had revenue of C$183.89 million for the quarter. On average, equities research analysts forecast that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current fiscal year.

Insider Transactions at PHX Energy Services

In other news, insider Craig Brown sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of C$13.75, for a total value of C$687,500.00. Following the transaction, the insider owned 129,633 shares of the company’s stock, valued at approximately C$1,782,453.75. This represents a 27.83% decrease in their ownership of the stock. Also, Director David Raines sold 8,333 shares of the company’s stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of C$13.58, for a total value of C$113,162.14. Following the completion of the transaction, the director directly owned 27,651 shares in the company, valued at C$375,500.58. The trade was a 23.16% decrease in their position. Insiders sold a total of 103,633 shares of company stock worth $1,421,738 over the last three months. Company 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. 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.