PHX Energy Services (TSE:PHX) Reaches New 12-Month High – Time to Buy?

PHX Energy Services Corp. (TSE:PHX)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$12.94 and last traded at C$12.90, with a volume of 145751 shares. The stock had previously closed at C$12.56.

Analyst Ratings Changes

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

PHX Energy Services Price Performance

The stock has a fifty day moving average of C$9.32 and a two-hundred day moving average of C$8.16. The company has a current ratio of 1.88, a quick ratio of 1.25 and a debt-to-equity ratio of 29.22. The stock has a market capitalization of C$590.69 million, a price-to-earnings ratio of 11.52 and a beta of 1.73.

PHX Energy Services (TSE:PHX) last announced its earnings results on Wednesday, February 25th. The company reported C$0.35 EPS for the quarter. PHX Energy Services had a return on equity of 24.11% and a net margin of 7.71%.The company had revenue of C$183.89 million for the quarter. As a group, equities research analysts forecast that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current year.

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.