PHX Energy Services (TSE:PHX) Stock Passes Above 200-Day Moving Average – Time to Sell?

PHX Energy Services Corp. (TSE:PHX) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.35 and traded as high as C$9.75. PHX Energy Services shares last traded at C$9.64, with a volume of 96,336 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, ATB Capital boosted their price objective on PHX Energy Services from C$11.75 to C$12.25 in a report on Thursday, August 8th.

PHX Energy Services Price Performance

The business’s fifty day moving average price is C$9.75 and its 200-day moving average price is C$9.35. The company has a market capitalization of C$448.55 million, a P/E ratio of 5.27 and a beta of 2.35. The company has a current ratio of 1.62, a quick ratio of 1.25 and a debt-to-equity ratio of 20.51.

PHX Energy Services (TSE:PHX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported C$0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.20 by C$0.06. The firm had revenue of C$154.23 million during the quarter, compared to analyst estimates of C$149.00 million. PHX Energy Services had a return on equity of 42.04% and a net margin of 13.50%.

PHX Energy Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 8.30%. The ex-dividend date is Friday, September 27th. PHX Energy Services’s dividend payout ratio is currently 43.72%.

Insiders Place Their Bets

In related news, Senior Officer John Michael Hooks sold 58,300 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$9.16, for a total transaction of C$533,998.85. In other PHX Energy Services news, Senior Officer Michael Leslie Buker sold 4,900 shares of PHX Energy Services stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of C$10.03, for a total value of C$49,147.00. Also, Senior Officer John Michael Hooks sold 58,300 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of C$9.16, for a total value of C$533,998.85. Insiders own 12.19% of the company’s stock.

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.