PHX Energy Services (TSE:PHX) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?
by Danessa Lincoln · The Markets DailyShares of PHX Energy Services Corp. (TSE:PHX – Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$10.07 and traded as high as C$11.56. PHX Energy Services shares last traded at C$11.32, with a volume of 117,672 shares traded.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. BMO Capital Markets boosted their price objective on PHX Energy Services from C$8.50 to C$10.50 and gave the stock 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 boosted their price objective for the stock from C$8.00 to C$11.75 in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$11.13.
View Our Latest Stock Report on PHX
PHX Energy Services Price Performance
The business has a 50-day simple moving average of C$11.78 and a 200 day simple moving average of C$10.07. The stock has a market cap of C$516.86 million, a P/E ratio of 12.72 and a beta of 1.13. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 41.56.
PHX Energy Services (TSE:PHX – Get Free Report) 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. On average, analysts forecast that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current year.
Insider Buying and Selling at PHX Energy Services
In other PHX Energy Services news, Director Myron Arthur Tetreault sold 3,400 shares of the company’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of C$13.61, for a total value of C$46,274.00. Following the sale, the director owned 24,000 shares in the company, valued at approximately C$326,640. The trade was a 12.41% decrease in their position. Also, insider Michael Leslie Buker sold 30,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$11.79, for a total value of C$353,700.00. Following the completion of the sale, the insider owned 326,100 shares in the company, valued at C$3,844,719. This trade represents a 8.42% decrease in their position. In the last quarter, insiders have sold 235,799 shares of company stock worth $2,937,093. Insiders own 11.86% of the company’s stock.
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.