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

PHX Energy Services (TSE:PHX) had its price target trimmed by ATB Capital from C$12.25 to C$11.75 in a research report report published on Friday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

PHX Energy Services Stock Performance

PHX opened at C$9.07 on Friday. The company has a market cap of C$430.73 million, a PE ratio of 4.75 and a beta of 2.37. The stock has a 50-day moving average of C$8.96 and a 200-day moving average of C$8.94. PHX Energy Services has a 52-week low of C$5.99 and a 52-week high of C$9.78. The company has a debt-to-equity ratio of 20.04, a quick ratio of 1.25 and a current ratio of 1.74.

PHX Energy Services (TSE:PHX) last released its quarterly earnings results on Tuesday, May 7th. The company reported C$0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.34 by C$0.03. The company had revenue of C$166.12 million during the quarter, compared to the consensus estimate of C$161.25 million. PHX Energy Services had a return on equity of 45.23% and a net margin of 14.26%. As a group, equities research analysts forecast that PHX Energy Services will post 1.1799729 earnings per share for the current fiscal year.

PHX Energy Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.20 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.80 annualized dividend and a yield of 8.82%. PHX Energy Services’s dividend payout ratio (DPR) is 41.88%.

Insider Buying and Selling at PHX Energy Services

In related news, insider PHX Energy Services Corp bought 317,600 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was acquired at an average cost of C$8.74 per share, with a total value of C$2,775,824.00. In related news, insider PHX Energy Services Corp bought 317,600 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was acquired at an average cost of C$8.74 per share, with a total value of C$2,775,824.00. Also, Director Karen David-Green purchased 3,950 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of C$8.55 per share, with a total value of C$33,756.31. Insiders bought a total of 326,125 shares of company stock valued at $2,850,923 in the last quarter. Corporate insiders own 11.88% 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.