PHX Energy Services (TSE:PHX) Cut to “Sector Perform” at ATB Capital

ATB Capital downgraded shares of PHX Energy Services (TSE:PHX) from an outperform rating to a sector perform rating in a research note released on Thursday,BayStreet.CA reports. The brokerage currently has C$8.50 price target on the stock, down from their previous price target of C$9.50.

PHX Energy Services Price Performance

TSE PHX opened at C$7.48 on Thursday. The stock has a market capitalization of C$337.93 million, a P/E ratio of 6.56 and a beta of 1.20. PHX Energy Services has a 1 year low of C$6.64 and a 1 year high of C$10.10. The business’s fifty day moving average is C$7.65 and its two-hundred day moving average is C$7.92. The company has a debt-to-equity ratio of 25.99, a quick ratio of 1.25 and a current ratio of 1.67.

Insider Transactions at PHX Energy Services

In other PHX Energy Services news, insider Craig Brown sold 75,000 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of C$7.79, for a total transaction of C$584,250.00. Following the sale, the insider directly owned 129,633 shares of the company’s stock, valued at C$1,009,841.07. The trade was a 36.65% decrease in their position. 11.86% of the stock is currently owned by company insiders.

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.