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

PHX Energy Services (TSE:PHX) had its target price lowered by ATB Capital from C$12.25 to C$11.75 in a research note issued to investors on Tuesday morning, BayStreet.CA reports.

PHX Energy Services Price Performance

PHX Energy Services stock opened at C$9.69 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.25 and a debt-to-equity ratio of 20.51. The firm has a market capitalization of C$450.88 million, a P/E ratio of 5.30 and a beta of 2.32. The business has a 50-day moving average of C$9.69 and a 200-day moving average of C$9.41. PHX Energy Services has a 1 year low of C$7.00 and a 1 year high of C$10.70.

PHX Energy Services (TSE:PHX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported C$0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.20 by C$0.06. The firm had revenue of C$154.23 million during the quarter, compared to analysts’ expectations of C$149.00 million. PHX Energy Services had a net margin of 13.50% and a return on equity of 42.04%. On average, equities analysts anticipate that PHX Energy Services will post 1.2397516 EPS for the current year.

PHX Energy Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.80 annualized dividend and a yield of 8.26%. PHX Energy Services’s dividend payout ratio is presently 43.72%.

Insider Buying and Selling at PHX Energy Services

In other PHX Energy Services news, insider PHX Energy Services Corp acquired 60,600 shares of the business’s stock in a transaction dated Saturday, August 31st. The shares were acquired at an average price of C$10.17 per share, for a total transaction of C$616,350.48. In other PHX Energy Services news, Senior Officer John Michael Hooks sold 58,300 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of C$9.16, for a total transaction of C$533,998.85. Also, insider PHX Energy Services Corp purchased 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, for a total transaction of C$616,350.48. Insiders own 11.86% 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.