Garrett Wright Buys 3,700 Shares of PHX Energy Services Corp. (TSE:PHX) Stock

PHX Energy Services Corp. (TSE:PHX) Director Garrett Wright bought 3,700 shares of the stock in a transaction on Friday, May 17th. The stock was purchased at an average cost of C$9.07 per share, with a total value of C$33,573.06.

PHX Energy Services Trading Down 2.3 %

Shares of PHX stock opened at C$8.79 on Thursday. The stock has a market cap of C$417.44 million, a price-to-earnings ratio of 4.48 and a beta of 2.37. The stock has a 50-day moving average of C$9.06 and a 200-day moving average of C$8.85. The company has a current ratio of 1.83, a quick ratio of 1.25 and a debt-to-equity ratio of 21.32. PHX Energy Services Corp. has a 1-year low of C$5.58 and a 1-year high of C$9.78.

PHX Energy Services (TSE:PHX) last issued its quarterly earnings results on Tuesday, February 27th. The company reported C$0.68 earnings per share for the quarter, beating the consensus estimate of C$0.40 by C$0.28. The company had revenue of C$165.33 million during the quarter, compared to analysts’ expectations of C$158.50 million. PHX Energy Services had a return on equity of 50.97% and a net margin of 15.02%. On average, equities research analysts forecast that PHX Energy Services Corp. will post 1.2855093 earnings per share for the current year.

PHX Energy Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.20 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.80 annualized dividend and a dividend yield of 9.10%. PHX Energy Services’s payout ratio is 40.82%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PHX shares. ATB Capital upped their target price on PHX Energy Services from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. BMO Capital Markets lowered their target price on PHX Energy Services from C$11.50 to C$11.00 in a report on Wednesday, February 28th.

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.