PHX Energy Services (TSE:PHX) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of PHX Energy Services Corp. (TSE:PHX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$7.68 and traded as high as C$8.50. PHX Energy Services shares last traded at C$8.37, with a volume of 90,926 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on PHX. Atb Cap Markets cut shares of PHX Energy Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. ATB Capital cut shares of PHX Energy Services from an “outperform” rating to a “sector perform” rating and reduced their target price for the company 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.com, the company currently has an average rating of “Hold” and an average price target of C$8.50.

PHX Energy Services Trading Down 0.8%

The stock has a 50 day moving average of C$7.70 and a 200-day moving average of C$7.68. The company has a market capitalization of C$378.14 million, a P/E ratio of 7.75 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.

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

Insider Buying and Selling at PHX Energy Services

In other news, insider Michael Leslie Buker bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 27th. The stock was bought at an average price of C$7.32 per share, with a total value of C$36,600.00. Following 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 90 days, insiders have sold 5,000 shares of company stock worth $36,026. 11.86% of the stock is currently 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.