PHX Energy Services (TSE:PHX) Downgraded by ATB Cormack to “Sector Perform”

PHX Energy Services (TSE:PHX) was downgraded by investment analysts at ATB Cormack from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday, BayStreet reports. They currently have a C$13.25 price target on the stock, down from their prior price target of C$15.50. ATB Cormack‘s price target would suggest a potential upside of 22.46% from the company’s previous close.

PHX Energy Services Trading Down 14.7%

Shares of PHX traded down C$1.86 on Wednesday, reaching C$10.82. 824,720 shares of the company’s stock were exchanged, compared to its average volume of 176,519. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 40.80. The stock has a market capitalization of C$495.13 million, a P/E ratio of 11.39 and a beta of 1.38. The business has a 50 day moving average price of C$12.63 and a two-hundred day moving average price of C$11.48. PHX Energy Services has a 12 month low of C$6.87 and a 12 month high of C$14.17.

PHX Energy Services (TSE:PHX) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported C$0.23 earnings per share for the quarter. PHX Energy Services had a net margin of 6.46% and a return on equity of 20.25%. The business had revenue of C$204.18 million for the quarter. Research analysts anticipate that PHX Energy Services will post 1.24 earnings per share for the current year.

Insider Buying and Selling at PHX Energy Services

In other news, insider John Michael Hooks sold 128,800 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of C$12.00, for a total value of C$1,545,600.00. Following the transaction, the insider owned 2,510,804 shares of the company’s stock, valued at C$30,129,648. This represents a 4.88% decrease in their position. Also, insider Michael Leslie Buker sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of C$12.47, for a total value of C$187,050.00. Following the completion of the transaction, the insider owned 332,600 shares in the company, valued at C$4,147,522. This represents a 4.32% decrease in their ownership of the stock. Insiders have sold a total of 341,100 shares of company stock valued at $4,128,300 in the last quarter. Corporate insiders own 11.86% of the company’s stock.

PHX Energy Services Company Profile

PHX Energy is a growth oriented, public oil and natural gas services company. The Corporation, through its directional drilling subsidiary entities provides horizontal and directional drilling services to oil and natural gas exploration and development companies principally in Canada and the US. In connection with the services it provides, PHX Energy engineers, develops and manufactures leading-edge technologies. In recent years, PHX Energy has developed various new technologies that have positioned the Corporation as a technology leader in the horizontal and directional drilling services sector in North America.