Insider Selling: PHX Energy Services (TSE:PHX) Insider Sells 33,333 Shares of Stock

PHX Energy Services Corp. (TSE:PHX) insider Cameron Michael Ritchie sold 33,333 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of C$11.36, for a total value of C$378,662.88. Following the sale, the insider owned 100,000 shares in the company, valued at C$1,136,000. This represents a 25.00% decrease in their position.

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

• On Thursday, May 7th, Cameron Michael Ritchie sold 16,666 shares of PHX Energy Services stock. The stock was sold at an average price of C$11.33, for a total value of C$188,825.78.
• On Thursday, May 7th, Cameron Michael Ritchie sold 16,667 shares of PHX Energy Services stock. The stock was sold at an average price of C$11.40, for a total value of C$190,003.80.
• On Thursday, May 7th, Cameron Michael Ritchie sold 9,500 shares of PHX Energy Services stock. The stock was sold at an average price of C$11.25, for a total value of C$106,875.00.
• On Thursday, May 7th, Cameron Michael Ritchie sold 9,900 shares of PHX Energy Services stock. The stock was sold at an average price of C$11.31, for a total value of C$111,969.00.
• On Thursday, May 7th, Cameron Michael Ritchie sold 5,100 shares of PHX Energy Services stock. The stock was sold at an average price of C$11.38, for a total value 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

PHX stock traded up C$0.14 during midday trading on Monday, reaching C$11.23. 285,473 shares of the stock were exchanged, compared to its average volume of 238,682. The stock has a market capitalization of C$509.48 million, a PE ratio of 12.62 and a beta of 1.35. PHX Energy Services Corp. has a 52 week low of C$6.87 and a 52 week high of C$14.17. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.92 and a quick ratio of 1.25. The company has a fifty day moving average price of C$12.40 and a 200 day moving average price of C$9.41.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BMO Capital Markets upped their price target on PHX Energy Services from C$8.50 to C$10.50 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. ATB Cormark Capital Markets upgraded PHX Energy Services from a “hold” rating to a “moderate buy” rating and upped their price target for the company from C$8.00 to C$11.75 in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, PHX Energy Services currently has a consensus rating of “Buy” and an average target price 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.