PHX Energy Services (TSE:PHX) Upgraded by ATB Cormark Capital Markets to Outperform Rating

ATB Cormark Capital Markets upgraded shares of PHX Energy Services (TSE:PHX) from a market perform rating to an outperform rating in a research note published on Wednesday,BayStreet.CA reports. They currently have C$11.75 price target on the stock, up from their prior price target of C$8.00.

Separately, BMO Capital Markets upped their target price on PHX Energy Services from C$8.50 to C$10.50 and gave the stock an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$11.13.

PHX Energy Services Price Performance

Shares of PHX stock opened at C$10.90 on Wednesday. The company has a market capitalization of C$492.44 million, a P/E ratio of 10.09 and a beta of 1.19. The company’s 50-day simple moving average is C$8.19 and its two-hundred day simple moving average is C$7.77. PHX Energy Services has a one year low of C$6.64 and a one year high of C$11.23. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.67 and a quick ratio of 1.25.

PHX Energy Services (TSE:PHX) last announced its quarterly earnings results on Tuesday, February 24th. The company reported C$0.35 earnings per share (EPS) for the quarter. PHX Energy Services had a return on equity of 34.01% and a net margin of 11.40%.The firm had revenue of C$183.89 million during the quarter. As a group, equities analysts anticipate that PHX Energy Services will post 1.2397516 EPS for the current year.

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.