PHX Energy Services (OTCMKTS:PHXHF) Trading 5% Higher – Time to Buy?

PHX Energy Services Corp. (OTCMKTS:PHXHF) shot up 5% during trading on Tuesday . The stock traded as high as $7.12 and last traded at $7.12. 3,000 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 3,793 shares. The stock had previously closed at $6.78.

PHX Energy Services Stock Performance

The stock has a 50-day moving average price of $6.98 and a two-hundred day moving average price of $6.90.

PHX Energy Services Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.1471 dividend. This is a positive change from PHX Energy Services’s previous dividend of $0.15. This represents a dividend yield of 8.24%. The ex-dividend date of this dividend was Friday, September 27th. PHX Energy Services’s dividend payout ratio is presently 62.88%.

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.