PHX Energy Services (TSE:PHX) Stock Gets Downgrade from ATB Cormark Capital Markets

PHX Energy Services (TSE:PHX) was downgraded by stock analysts at ATB Cormark Capital Markets from a “moderate buy” rating to a “hold” rating in a research report issued on Wednesday, Marketbeat Ratings reports. They currently have a C$13.25 target price on the stock, down from their previous target price of C$15.50. ATB Cormark Capital Markets‘s price objective points to a potential upside of 22.01% from the stock’s current price.

PHX Energy Services Stock Performance

PHX stock opened at C$10.86 on Wednesday. The firm has a market cap of C$496.96 million, a PE ratio of 11.43 and a beta of 1.38. The company has a quick ratio of 1.25, a current ratio of 1.88 and a debt-to-equity ratio of 12.26. The business has a 50 day moving average of C$12.60 and a 200-day moving average of C$11.50. 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 issued its quarterly earnings results on Tuesday, November 3rd. The company reported C$0.23 EPS for the quarter. PHX Energy Services had a return on equity of 20.96% and a net margin of 6.39%. The business had revenue of C$204.18 million for the quarter. As a group, sell-side analysts expect that PHX Energy Services will post 1.24 earnings per share for the current year.

Insider Buying and Selling at PHX Energy Services

In related news, insider Michael Leslie Buker sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of C$12.47, for a total value of C$187,050.00. Following the transaction, the insider directly owned 332,600 shares of the company’s stock, valued at approximately C$4,147,522. The trade was a 4.32% decrease in their position. Also, insider John Michael Hooks sold 128,800 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of C$12.00, for a total transaction of C$1,545,600.00. Following the transaction, the insider owned 2,510,804 shares of the company’s stock, valued at approximately C$30,129,648. The trade was a 4.88% decrease in their position. Over the last ninety days, insiders have sold 341,100 shares of company stock valued at $4,128,300. 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.