PHX Energy Services (TSE:PHX) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

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$7.95 and traded as high as C$12.18. PHX Energy Services shares last traded at C$12.17, with a volume of 397,261 shares.

Analyst Ratings Changes

A number of analysts recently commented on the company. ATB Cormark Capital Markets upgraded PHX Energy Services from a “hold” rating to a “moderate buy” rating and lifted their price target for the stock from C$8.00 to C$11.75 in a report on Wednesday, February 25th. BMO Capital Markets lifted their target price on PHX Energy Services from C$8.50 to C$10.50 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$11.13.

PHX Energy Services Trading Up 2.3%

The firm has a 50 day moving average of C$8.72 and a 200 day moving average of C$7.95. The firm has a market cap of C$552.13 million, a PE ratio of 10.77 and a beta of 1.19. The company has a quick ratio of 1.25, a current ratio of 1.88 and a debt-to-equity ratio of 29.22.

PHX Energy Services (TSE:PHX) last issued its earnings results on Tuesday, February 24th. The company reported C$0.35 earnings per share (EPS) for the quarter. PHX Energy Services had a return on equity of 24.11% and a net margin of 7.71%.The firm had revenue of C$183.89 million for the quarter. Equities analysts anticipate that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current year.

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.