PHX Energy Services (TSE:PHX) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

PHX Energy Services Corp. (TSE:PHX) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$7.68 and traded as high as C$8.50. PHX Energy Services shares last traded at C$8.37, with a volume of 90,926 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Atb Cap Markets lowered shares of PHX Energy Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. ATB Capital downgraded shares of PHX Energy Services from an “outperform” rating to a “sector perform” rating and dropped their target price for the company 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, Based on data from MarketBeat, PHX Energy Services currently has an average rating of “Hold” and an average price target of C$8.50.

PHX Energy Services Stock Performance

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 cap of C$378.14 million, a price-to-earnings ratio of 7.75 and a beta of 1.05. The stock’s 50 day moving average is C$7.70 and its two-hundred day moving average is C$7.67.

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

Insiders Place Their Bets

In other PHX Energy Services news, insider Michael Leslie Buker acquired 5,000 shares of the stock in a transaction on Thursday, November 27th. The shares were bought at an average price of C$7.32 per share, with a total value of C$36,600.00. Following the acquisition, the insider owned 311,100 shares of the company’s stock, valued at C$2,277,252. This trade represents a 1.63% increase in their ownership of the stock. Over the last 90 days, insiders sold 5,000 shares of company stock valued at $36,026. 11.86% of the stock is currently owned by insiders.

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.