ATB Capital Lowers PHX Energy Services (TSE:PHX) Price Target to C$11.75

PHX Energy Services (TSE:PHX) had its target price decreased by research analysts at ATB Capital from C$12.25 to C$11.75 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Capital’s price objective points to a potential upside of 29.55% from the stock’s current price.

PHX Energy Services Price Performance

TSE PHX opened at C$9.07 on Friday. PHX Energy Services has a 52 week low of C$5.99 and a 52 week high of C$9.78. The firm has a market capitalization of C$430.73 million, a P/E ratio of 4.75 and a beta of 2.37. The company has a quick ratio of 1.25, a current ratio of 1.74 and a debt-to-equity ratio of 20.04. The company has a 50-day moving average price of C$8.96 and a 200-day moving average price of C$8.93.

PHX Energy Services (TSE:PHX) last released its quarterly earnings results on Tuesday, May 7th. The company reported C$0.37 EPS for the quarter, beating the consensus estimate of C$0.34 by C$0.03. The firm had revenue of C$166.12 million during the quarter, compared to analyst estimates of C$161.25 million. PHX Energy Services had a net margin of 14.26% and a return on equity of 45.23%. Equities research analysts anticipate that PHX Energy Services will post 1.1799729 earnings per share for the current year.

Insider Activity at PHX Energy Services

In related news, Director Karen David-Green acquired 3,950 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average cost of C$8.55 per share, for a total transaction of C$33,756.31. In other PHX Energy Services news, insider PHX Energy Services Corp purchased 317,600 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was acquired at an average cost of C$8.74 per share, for a total transaction of C$2,775,824.00. Also, Director Karen David-Green purchased 3,950 shares of the company’s stock in a transaction on Monday, May 13th. The stock was acquired at an average price of C$8.55 per share, with a total value of C$33,756.31. In the last ninety days, insiders purchased 326,125 shares of company stock worth $2,850,923. 11.88% of the stock is owned by company insiders.

PHX Energy Services Company Profile

PHX Energy Services Corp. provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally. It offers Atlas motors; Velocity Real-Time Systems that provide downhole guidance systems; Echo system; PowerDrive Orbit RSS, a rotary steerable system; performance drilling motors; P-360 Positive Pulse MWD System, a measurement while drilling (MWD) tool; and E-360 EM MWD System, a MWD tool that transmits electric signals through geological formations.