PHX Energy Services (TSE:PHX) Price Target Raised to C$10.50

PHX Energy Services (TSE:PHX) had its price target hoisted by equities research analysts at BMO Capital Markets from C$8.50 to C$10.50 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential downside of 4.81% from the stock’s previous close.

PHX Energy Services Price Performance

Shares of TSE PHX traded up C$1.88 during midday trading on Wednesday, reaching C$11.03. The company’s stock had a trading volume of 852,541 shares, compared to its average volume of 162,815. The company has a market cap of C$498.31 million, a P/E ratio of 10.21 and a beta of 1.19. PHX Energy Services has a fifty-two week low of C$6.64 and a fifty-two week high of C$11.23. The company has a debt-to-equity ratio of 25.99, a quick ratio of 1.25 and a current ratio of 1.67. The business’s 50 day moving average price is C$8.12 and its two-hundred day moving average price is C$7.74.

PHX Energy Services (TSE:PHX) last posted its quarterly earnings data on Tuesday, February 24th. The company reported C$0.35 EPS for the quarter. The firm had revenue of C$183.89 million for the quarter. PHX Energy Services had a return on equity of 34.01% and a net margin of 11.40%. On average, analysts forecast that PHX Energy Services will post 1.2397516 EPS for the current fiscal year.

Insider Transactions at PHX Energy Services

In other news, insider Michael Leslie Buker acquired 5,000 shares of the stock in a transaction on Thursday, November 27th. The stock was acquired at an average cost of C$7.32 per share, for a total transaction of C$36,600.00. Following the completion of the transaction, the insider directly owned 311,100 shares in the company, valued at approximately C$2,277,252. This trade represents a 1.63% increase in their ownership of the stock. 11.86% of the stock is owned by company insiders.

About PHX Energy Services

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.