PHX Energy Services (TSE:PHX) Releases Earnings Results

PHX Energy Services (TSE:PHX) announced its quarterly earnings results on Tuesday. The company reported C$0.20 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$183.89 million during the quarter. PHX Energy Services had a return on equity of 24.11% and a net margin of 7.71%.

PHX Energy Services Stock Down 8.1%

PHX stock opened at C$11.52 on Thursday. PHX Energy Services has a 52 week low of C$6.87 and a 52 week high of C$14.17. The company has a quick ratio of 1.25, a current ratio of 1.88 and a debt-to-equity ratio of 29.22. The firm has a 50-day simple moving average of C$12.35 and a 200-day simple moving average of C$9.38. The stock has a market capitalization of C$522.64 million, a P/E ratio of 10.19 and a beta of 1.35.

Insider Activity at PHX Energy Services

In related news, insider Craig Brown sold 50,000 shares of PHX Energy Services stock in a transaction dated Monday, March 30th. The stock was sold at an average price of C$13.75, for a total value of C$687,500.00. Following the sale, the insider directly owned 129,633 shares in the company, valued at approximately C$1,782,453.75. The trade was a 27.83% decrease in their position. Also, Director Myron Arthur Tetreault sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of C$13.69, for a total value of C$82,140.00. Following the sale, the director owned 28,000 shares of the company’s stock, valued at approximately C$383,320. This trade represents a 17.65% decrease in their ownership of the stock. Over the last 90 days, insiders sold 103,633 shares of company stock valued at $1,421,738. 11.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on PHX shares. ATB Cormark Capital Markets raised PHX Energy Services from a “hold” rating to a “moderate buy” rating and raised their price objective for the company from C$8.00 to C$11.75 in a report on Wednesday, February 25th. BMO Capital Markets upped their target price on PHX Energy Services from C$8.50 to C$10.50 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, PHX Energy Services has an average rating of “Buy” and an average price target of C$11.13.

PHX Energy Services Company Profile

PHX Energy Services Corp is a Canadian service provider company. It is principally engaged in providing horizontal and directional drilling services, as well as web-based remote electronic drilling recorder technology and services, to oil and natural gas exploration and development companies in Canada, United States, Albania, and Russia. The services provided by the company includes directional drilling and motor rentals, survey management, gyro surveying and stream services. Geographically, the company operates in Canada, United States, and International.