PHX Energy Services (OTCMKTS:PHXHF) Shares Down 5.4% – Should You Sell?

PHX Energy Services Corp. (OTCMKTS:PHXHF) was down 5.4% during mid-day trading on Tuesday . The company traded as low as $6.69 and last traded at $6.69. Approximately 2,409 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 3,716 shares. The stock had previously closed at $7.07.

PHX Energy Services Stock Down 5.4 %

The business’s fifty day simple moving average is $6.96 and its 200-day simple moving average is $6.94.

PHX Energy Services Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.1471 dividend. This is an increase from PHX Energy Services’s previous dividend of $0.15. This represents a yield of 8.24%. The ex-dividend date was Friday, September 27th. PHX Energy Services’s payout ratio is currently 62.88%.

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.