ATB Capital Lowers PHX Energy Services (TSE:PHX) Price Target to C$11.50

PHX Energy Services (TSE:PHX) had its target price lowered by analysts at ATB Capital from C$11.75 to C$11.50 in a note issued to investors on Thursday,BayStreet.CA reports. ATB Capital’s price target suggests a potential upside of 15.58% from the stock’s current price.

PHX Energy Services Stock Down 0.6 %

PHX opened at C$9.95 on Thursday. The business has a 50-day moving average of C$9.55 and a 200-day moving average of C$9.43. PHX Energy Services has a fifty-two week low of C$7.91 and a fifty-two week high of C$10.70. The company has a market capitalization of C$462.97 million, a PE ratio of 5.44 and a beta of 2.32. The company has a debt-to-equity ratio of 20.51, a current ratio of 1.62 and a quick ratio of 1.25.

PHX Energy Services (TSE:PHX) last released its quarterly earnings results on Tuesday, August 6th. The company reported C$0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.20 by C$0.06. The company had revenue of C$154.23 million during the quarter, compared to analysts’ expectations of C$149.00 million. PHX Energy Services had a net margin of 13.50% and a return on equity of 42.04%. Equities research analysts forecast that PHX Energy Services will post 1.2397516 EPS for the current fiscal year.

Insider Buying and Selling at PHX Energy Services

In other news, Senior Officer Cameron Michael Ritchie sold 50,000 shares of PHX Energy Services stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of C$9.85, for a total value of C$492,250.00. In related news, Senior Officer Cameron Michael Ritchie sold 50,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of C$9.85, for a total transaction of C$492,250.00. Also, insider PHX Energy Services Corp bought 60,600 shares of the company’s stock in a transaction on Saturday, August 31st. The stock was bought at an average cost of C$10.17 per share, with a total value of C$616,350.48. Insiders have sold a total of 113,200 shares of company stock worth $1,075,396 over the last ninety days. Corporate insiders own 11.86% of the company’s stock.

About PHX Energy Services

PHX Energy Services Corp. provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally. It offers Atlas motors; Velocity Real-Time Systems that provide downhole guidance systems; Echo system; PowerDrive Orbit RSS, a rotary steerable system; performance drilling motors; P-360 Positive Pulse MWD System, a measurement while drilling (MWD) tool; and E-360 EM MWD System, a MWD tool that transmits electric signals through geological formations.