PHX Energy Services (TSE:PHX) Posts Earnings Results

PHX Energy Services (TSE:PHX) announced its quarterly earnings data on Tuesday. The company reported C$0.20 EPS for the quarter, FiscalAI reports. PHX Energy Services had a net margin of 7.71% and a return on equity of 24.11%. The firm had revenue of C$183.89 million during the quarter.

PHX Energy Services Price Performance

PHX stock traded down C$0.63 during trading on Wednesday, hitting C$11.91. The stock had a trading volume of 444,815 shares, compared to its average volume of 235,738. The stock has a market cap of C$540.33 million, a price-to-earnings ratio of 10.54 and a beta of 1.35. The company has a debt-to-equity ratio of 29.22, a quick ratio of 1.25 and a current ratio of 1.88. The company’s 50 day moving average price is C$12.29 and its two-hundred day moving average price is C$9.35. PHX Energy Services has a 1-year low of C$6.87 and a 1-year high of C$14.17.

Insiders Place Their Bets

In related news, insider Jeffery John Shafer sold 20,000 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of C$13.70, for a total value of C$274,000.00. Following the completion of the sale, the insider directly owned 183,793 shares in the company, valued at approximately C$2,517,964.10. This represents a 9.81% decrease in their position. Also, Director David Raines sold 8,333 shares of the firm’s stock in a transaction dated 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. This trade represents a 23.16% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 103,633 shares of company stock valued at $1,421,738. Insiders own 11.86% of the company’s stock.

Analysts Set New Price Targets

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

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.