PHX Energy Services (TSE:PHX) Reaches New 52-Week High – Should You Buy?

PHX Energy Services Corp. (TSE:PHX) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$12.77 and last traded at C$12.70, with a volume of 62474 shares changing hands. The stock had previously closed at C$12.56.

Analyst Upgrades and Downgrades

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

PHX Energy Services Price Performance

The firm has a market capitalization of C$578.44 million, a PE ratio of 11.28 and a beta of 1.73. The firm’s fifty day moving average price is C$8.82 and its 200 day moving average price is C$7.99. The company has a current ratio of 1.88, a quick ratio of 1.25 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. The firm had revenue of C$183.89 million during the quarter. PHX Energy Services had a net margin of 7.71% and a return on equity of 24.11%. As a group, equities analysts forecast that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current year.

PHX Energy Services Company Profile

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.