PHX Energy Services (TSE:PHX) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

PHX Energy Services Corp. (TSE:PHX)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$7.68 and traded as high as C$8.18. PHX Energy Services shares last traded at C$8.11, with a volume of 197,899 shares trading hands.

Wall Street Analyst Weigh In

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

PHX Energy Services Trading Up 0.4%

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 company has a market cap of C$366.39 million, a price-to-earnings ratio of 7.51 and a beta of 1.05. The business’s fifty day moving average price is C$7.56 and its 200 day moving average price is C$7.68.

PHX Energy Services (TSE:PHX) last posted its quarterly earnings data on Tuesday, November 4th. The company reported C$0.16 earnings per share for the quarter. The business had revenue of C$164.33 million during the quarter. PHX Energy Services had a return on equity of 34.01% and a net margin of 11.40%. Research analysts anticipate 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 bought 5,000 shares of PHX Energy Services stock in a transaction that occurred on Thursday, November 27th. The shares were acquired at an average cost of C$7.32 per share, for a total transaction of C$36,600.00. Following the completion of the acquisition, the insider directly owned 311,100 shares of the company’s stock, valued at approximately C$2,277,252. The trade was a 1.63% increase in their position. Insiders sold 5,000 shares of company stock valued at $36,026 over the last quarter. 11.86% of the stock is owned by insiders.

About PHX Energy Services

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.