PHX Energy Services (TSE:PHX) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

PHX Energy Services Corp. (TSE:PHX)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$7.70 and traded as high as C$8.99. PHX Energy Services shares last traded at C$8.89, with a volume of 104,106 shares changing hands.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets lowered shares of PHX Energy Services from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$9.50 to C$8.50 in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$8.50.

PHX Energy Services Stock Performance

The firm’s 50 day simple moving average is C$7.98 and its 200-day simple moving average is C$7.70. The company has a market capitalization of C$401.63 million, a price-to-earnings ratio of 8.23 and a beta of 1.19. The company has a debt-to-equity ratio of 25.99, a quick ratio of 1.25 and a current ratio of 1.67.

Insider Buying and Selling

In related news, insider Michael Leslie Buker purchased 5,000 shares of PHX Energy Services stock in a transaction dated Thursday, November 27th. The stock was acquired at an average cost of C$7.32 per share, with a total value of C$36,600.00. Following the completion of the transaction, 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 ownership of the stock. In the last three months, insiders sold 5,000 shares of company stock worth $36,026. Company insiders own 11.86% of the company’s stock.

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.