PHX Energy Services (OTCMKTS:PHXHF) Trading Up 0.7% – What’s Next?

PHX Energy Services Corp. (OTCMKTS:PHXHF)’s stock price traded up 0.7% during trading on Tuesday . The stock traded as high as $5.48 and last traded at $5.48. 23,064 shares changed hands during mid-day trading, an increase of 116% from the average session volume of 10,687 shares. The stock had previously closed at $5.45.

PHX Energy Services Stock Up 0.7%

The company’s 50 day moving average price is $5.55 and its 200 day moving average price is $5.77.

PHX Energy Services Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a $0.1444 dividend. This represents a dividend yield of 1,022.0%. The ex-dividend date is Tuesday, September 30th. PHX Energy Services’s payout ratio is currently 62.88%.

PHX Energy Services Company Profile

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.