ATB Capital Cuts PHX Energy Services (TSE:PHX) Price Target to C$11.50

PHX Energy Services (TSE:PHX) had its price objective lowered by ATB Capital from C$11.75 to C$11.50 in a research report sent to investors on Thursday,BayStreet.CA reports.

PHX Energy Services Stock Down 0.6 %

Shares of PHX opened at C$9.95 on Thursday. The stock has a market cap of C$462.97 million, a price-to-earnings ratio of 5.44 and a beta of 2.32. The company has a quick ratio of 1.25, a current ratio of 1.62 and a debt-to-equity ratio of 20.51. PHX Energy Services has a 12 month low of C$7.91 and a 12 month high of C$10.70. The company has a 50-day moving average price of C$9.55 and a two-hundred day moving average price of C$9.44.

PHX Energy Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 8.04%. The ex-dividend date of this dividend was Friday, September 27th. PHX Energy Services’s dividend payout ratio is 43.72%.

Insiders Place Their Bets

In other PHX Energy Services news, Senior Officer Michael Leslie Buker sold 4,900 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of C$10.03, for a total transaction of C$49,147.00. In other 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 shares were sold at an average price of C$10.03, for a total value of C$49,147.00. Also, insider PHX Energy Services Corp bought 60,600 shares of the business’s stock in a transaction dated Saturday, August 31st. The stock was purchased at an average price of C$10.17 per share, with a total value of C$616,350.48. Insiders sold a total of 113,200 shares of company stock worth $1,075,396 over the last quarter. Company insiders own 11.86% of the company’s stock.

About PHX Energy Services

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.