PHX Energy Services (TSE:PHX) Price Target Lowered to C$11.50 at ATB Capital

PHX Energy Services (TSE:PHX) had its price target trimmed by ATB Capital from C$11.75 to C$11.50 in a research note released on Thursday,BayStreet.CA reports.

PHX Energy Services Price Performance

Shares of PHX stock traded down C$0.11 during mid-day trading on Thursday, hitting C$9.90. 23,701 shares of the stock were exchanged, compared to its average volume of 77,933. The firm has a fifty day moving average of C$9.55 and a 200 day moving average of C$9.43. The company has a quick ratio of 1.25, a current ratio of 1.62 and a debt-to-equity ratio of 20.51. PHX Energy Services has a 52-week low of C$7.91 and a 52-week high of C$10.70. The company has a market cap of C$460.65 million, a PE ratio of 5.47 and a beta of 2.32.

PHX Energy Services (TSE:PHX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported C$0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.20 by C$0.06. The business had revenue of C$154.23 million during the quarter, compared to the consensus estimate of C$149.00 million. PHX Energy Services had a net margin of 13.50% and a return on equity of 42.04%. Research analysts anticipate that PHX Energy Services will post 1.2397516 earnings per share for the current year.

PHX Energy Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, September 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.08%. PHX Energy Services’s dividend payout ratio is currently 43.72%.

Insider Buying and Selling

In related news, Senior Officer Michael Leslie Buker sold 4,900 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of C$10.03, for a total transaction of C$49,147.00. In other PHX Energy Services news, insider PHX Energy Services Corp bought 60,600 shares of PHX Energy Services stock in a transaction dated Saturday, August 31st. The stock was acquired at an average cost of C$10.17 per share, with a total value of C$616,350.48. Also, Senior Officer Michael Leslie Buker sold 4,900 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of C$10.03, for a total transaction of C$49,147.00. In the last quarter, insiders sold 113,200 shares of company stock valued at $1,075,396. Company insiders own 11.86% of the company’s stock.

PHX Energy Services Company Profile

PHX Energy Services Corp. provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally. It offers Atlas motors; Velocity Real-Time Systems that provide downhole guidance systems; Echo system; PowerDrive Orbit RSS, a rotary steerable system; performance drilling motors; P-360 Positive Pulse MWD System, a measurement while drilling (MWD) tool; and E-360 EM MWD System, a MWD tool that transmits electric signals through geological formations.