PHX Energy Services (TSE:PHX) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

PHX Energy Services Corp. (TSE:PHX) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$7.71 and traded as low as C$7.41. PHX Energy Services shares last traded at C$7.44, with a volume of 130,687 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on PHX. Atb Cap Markets cut shares of PHX Energy Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. ATB Capital cut shares of PHX Energy Services from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from C$9.50 to C$8.50 in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$8.50.

PHX Energy Services Stock Performance

The firm has a market capitalization of C$336.12 million, a price-to-earnings ratio of 6.89 and a beta of 1.05. The company has a current ratio of 1.67, a quick ratio of 1.25 and a debt-to-equity ratio of 25.99. The stock’s 50-day moving average is C$7.44 and its 200-day moving average is C$7.71.

PHX Energy Services (TSE:PHX) last posted its earnings results on Tuesday, November 4th. The company reported C$0.16 earnings per share for the quarter. PHX Energy Services had a net margin of 11.40% and a return on equity of 34.01%. The firm had revenue of C$164.33 million for the quarter. On average, analysts predict that PHX Energy Services Corp. will post 1.2397516 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael Leslie Buker bought 5,000 shares of the stock in a transaction on Thursday, November 27th. The stock was acquired at an average price of C$7.32 per share, with a total value of C$36,600.00. Following the acquisition, the insider directly owned 311,100 shares in the company, valued at approximately C$2,277,252. This trade represents a 1.63% increase in their ownership of the stock. In the last 90 days, insiders sold 5,000 shares of company stock worth $36,026. Insiders own 11.86% of the company’s stock.

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.