PHX Energy Services (TSE:PHX) Hits New 1-Year High on Analyst Upgrade

PHX Energy Services Corp. (TSE:PHX) hit a new 52-week high during mid-day trading on Thursday after ATB Cormark Capital Markets upgraded the stock from a hold rating to a moderate buy rating. ATB Cormark Capital Markets now has a C$11.75 price target on the stock, up from their previous price target of C$8.00. PHX Energy Services traded as high as C$11.34 and last traded at C$11.19, with a volume of 69033 shares changing hands. The stock had previously closed at C$10.90.

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

PHX Energy Services Stock Up 7.7%

The company has a debt-to-equity ratio of 25.99, a quick ratio of 1.25 and a current ratio of 1.67. The company has a market cap of C$530.39 million, a PE ratio of 10.87 and a beta of 1.19. The firm has a fifty day simple moving average of C$8.28 and a 200 day simple moving average of C$7.79.

PHX Energy Services (TSE:PHX) last announced its quarterly earnings data on Tuesday, February 24th. The company reported C$0.35 earnings per share for the quarter. PHX Energy Services had a net margin of 11.40% and a return on equity of 34.01%. The business had revenue of C$183.89 million for the quarter. Equities research analysts predict that PHX Energy Services Corp. 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.