Insider Selling: PHX Energy Services Corp. (TSE:PHX) Director Sells 17,872 Shares of Stock

PHX Energy Services Corp. (TSE:PHX – Get Rating) Director Lawrence M. Hibbard sold 17,872 shares of the stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of C$6.18, for a total value of C$110,448.96. Following the transaction, the director now directly owns 151,601 shares in the company, valued at approximately C$936,894.18.

Shares of PHX traded down C$0.08 during midday trading on Friday, hitting C$6.04. The company had a trading volume of 17,952 shares, compared to its average volume of 105,418. PHX Energy Services Corp. has a 1 year low of C$3.66 and a 1 year high of C$7.50. The firm has a market capitalization of C$305.27 million and a P/E ratio of 13.91. The company has a debt-to-equity ratio of 26.68, a quick ratio of 1.18 and a current ratio of 1.64. The company’s 50-day simple moving average is C$6.54 and its 200-day simple moving average is C$5.52.

PHX Energy Services (TSE:PHX – Get Rating) last issued its earnings results on Wednesday, February 23rd. The company reported C$0.17 earnings per share for the quarter, beating the consensus estimate of C$0.13 by C$0.04. The firm had revenue of C$105.43 million during the quarter, compared to analyst estimates of C$99.00 million. Equities analysts predict that PHX Energy Services Corp. will post 0.86 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on PHX. Stifel Nicolaus reduced their price target on shares of PHX Energy Services from C$9.75 to C$9.50 in a research report on Thursday, May 5th. BMO Capital Markets increased their target price on shares of PHX Energy Services from C$9.00 to C$9.50 in a report on Thursday, May 5th.

About PHX Energy Services (Get Rating)

PHX Energy Services Corp. provides horizontal and directional drilling technology and services to oil and natural gas exploration and development, and production companies in Canada, the United States, Russia, Albania, and the Middle East. It offers Velocity Real-Time System, a ground-breaking technology that offers downhole guidance systems; Atlas Motors, a high-performance drilling motors; PowerDrive Orbit RSS, a rotary steerable system; P-360 Positive Pulse MWD System, a measurement while drilling (MWD) tool; and E-360 EM MWD System, an MWD tool that transmits electric signals through geological formations.

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