Insider Selling: PHX Energy Services (TSE:PHX) Insider Sells 9,900 Shares of Stock

PHX Energy Services Corp. (TSE:PHX) insider Cameron Michael Ritchie sold 9,900 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of C$11.31, for a total transaction of C$111,969.00. Following the sale, the insider directly owned 111,100 shares of the company’s stock, valued at approximately C$1,256,541. This trade represents a 8.18% decrease in their position.

Cameron Michael Ritchie also recently made the following trade(s):

• On Thursday, May 7th, Cameron Michael Ritchie sold 9,500 shares of PHX Energy Services stock. The shares were sold at an average price of C$11.25, for a total transaction of C$106,875.00.
• On Thursday, May 7th, Cameron Michael Ritchie sold 5,100 shares of PHX Energy Services stock. The shares were sold at an average price of C$11.38, for a total transaction of C$58,038.00.
• On Thursday, May 7th, Cameron Michael Ritchie sold 6,000 shares of PHX Energy Services stock. The stock was sold at an average price of C$11.38, for a total value of C$68,280.00.

PHX Energy Services Price Performance

Shares of PHX traded up C$0.05 during midday trading on Monday, hitting C$11.14. The company’s stock had a trading volume of 186,507 shares, compared to its average volume of 237,516. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 1.84. PHX Energy Services Corp. has a one year low of C$6.87 and a one year high of C$14.17. The stock has a market capitalization of C$505.40 million, a price-to-earnings ratio of 12.52 and a beta of 1.35. The company’s fifty day simple moving average is C$12.40 and its two-hundred day simple moving average is C$9.41.

PHX Energy Services (TSE:PHX) last released its quarterly earnings data on Tuesday, May 5th. The company reported C$0.20 earnings per share for the quarter. PHX Energy Services had a return on equity of 19.38% and a net margin of 6.21%.The business had revenue of C$183.89 million for the quarter. As a group, equities analysts expect that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.