PHX Energy Services (TSE:PHX) Share Price Passes Below 200-Day Moving Average – What’s Next?

PHX Energy Services Corp. (TSE:PHX)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$7.76 and traded as low as C$7.65. PHX Energy Services shares last traded at C$7.71, with a volume of 236,061 shares traded.

Analyst Ratings Changes

PHX has been the topic of several recent research reports. ATB Capital downgraded shares of PHX Energy Services from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$9.50 to C$8.50 in a research note on Thursday, October 23rd. Atb Cap Markets lowered PHX Energy Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$8.50.

PHX Energy Services Price Performance

The firm has a market cap of C$348.32 million, a price-to-earnings ratio of 7.14 and a beta of 0.93. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.67 and a quick ratio of 1.25. The stock has a 50-day moving average price of C$7.42 and a 200 day moving average price of C$7.76.

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 for the quarter. As a group, equities research analysts forecast that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current fiscal year.

Insider Activity at PHX Energy Services

In related news, insider Michael Leslie Buker purchased 5,000 shares of the business’s stock in a transaction dated Thursday, November 27th. The stock was acquired at an average price of C$7.32 per share, for a total transaction of C$36,600.00. Following the acquisition, the insider directly owned 311,100 shares of the company’s stock, valued at C$2,277,252. This trade represents a 1.63% increase in their position. Also, insider Craig Brown sold 75,000 shares of PHX Energy Services stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of C$7.79, for a total transaction of C$584,250.00. Following the sale, the insider owned 129,633 shares of the company’s stock, valued at approximately C$1,009,841.07. The trade was a 36.65% decrease in their ownership of the stock. Insiders have sold a total of 80,000 shares of company stock worth $620,276 in the last quarter. 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.