PHX Energy Services (TSE:PHX) Shares Cross Above 200-Day Moving Average – Here’s What Happened

PHX Energy Services Corp. (TSE:PHX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$7.68 and traded as high as C$8.18. PHX Energy Services shares last traded at C$8.11, with a volume of 197,899 shares.

Analysts Set New Price Targets

A number of brokerages have commented on PHX. Atb Cap Markets cut PHX Energy Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. ATB Capital lowered PHX Energy Services from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$9.50 to C$8.50 in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$8.50.

PHX Energy Services Stock Up 0.4%

The company has a current ratio of 1.67, a quick ratio of 1.25 and a debt-to-equity ratio of 25.99. The stock has a market capitalization of C$367.75 million, a P/E ratio of 7.54 and a beta of 1.05. The stock’s 50 day simple moving average is C$7.58 and its 200 day simple moving average is C$7.68.

PHX Energy Services (TSE:PHX) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$0.16 earnings per share (EPS) for the quarter. The firm had revenue of C$164.33 million for the quarter. PHX Energy Services had a return on equity of 34.01% and a net margin of 11.40%. As a group, research analysts predict that PHX Energy Services Corp. will post 1.2397516 EPS for the current fiscal year.

Insider Buying and Selling

In other PHX Energy Services news, insider Michael Leslie Buker bought 5,000 shares of the stock in a transaction on Thursday, November 27th. The stock was purchased at an average price of C$7.32 per share, for a total transaction of C$36,600.00. Following the completion of the purchase, the insider directly owned 311,100 shares in the company, valued at approximately C$2,277,252. This trade represents a 1.63% increase in their ownership of the stock. Insiders have sold a total of 5,000 shares of company stock valued at $36,026 over the last three months. 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.