PHX Energy Services (TSE:PHX) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

PHX Energy Services Corp. (TSE:PHX) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$7.68 and traded as high as C$7.97. PHX Energy Services shares last traded at C$7.86, with a volume of 337,922 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Atb Cap Markets cut PHX Energy Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. ATB Capital downgraded PHX Energy Services from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$9.50 to C$8.50 in a report on Thursday, October 23rd. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$8.50.

PHX Energy Services Trading Up 2.2%

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 firm has a market cap of C$355.10 million, a price-to-earnings ratio of 7.28 and a beta of 1.05. The company has a fifty day moving average price of C$7.46 and a 200-day moving average price of C$7.68.

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

Insider Activity

In other news, insider Michael Leslie Buker purchased 5,000 shares of the stock in a transaction that occurred on Thursday, November 27th. The shares were purchased at an average cost of C$7.32 per share, with a total value of C$36,600.00. Following the completion of the acquisition, the insider owned 311,100 shares of the company’s stock, valued at approximately C$2,277,252. This represents a 1.63% increase in their position. In the last ninety days, insiders have sold 5,000 shares of company stock valued at $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.