PHX Energy Services (OTCMKTS:PHXHF) Trading Down 2.2% – Here’s Why

PHX Energy Services Corp. (OTCMKTS:PHXHF)’s share price dropped 2.2% during mid-day trading on Tuesday . The company traded as low as $5.84 and last traded at $5.90. Approximately 8,331 shares were traded during trading, an increase of 14% from the average daily volume of 7,277 shares. The stock had previously closed at $6.03.

PHX Energy Services Stock Performance

The stock has a 50 day simple moving average of $6.07 and a 200-day simple moving average of $6.02.

PHX Energy Services Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.20 per share. This represents a dividend yield of 1,246.0%. The ex-dividend date of this dividend was Monday, June 30th. This is an increase from PHX Energy Services’s previous dividend of $0.14. PHX Energy Services’s payout ratio is presently 62.88%.

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.