PHX Energy Services (TSE:PHX) Stock Price Breaks Below 200-Day Moving Average After Analyst Downgrade

Shares of PHX Energy Services Corp. (TSE:PHX) passed below its 200-day moving average during trading on Wednesday after ATB Cormark Capital Markets downgraded the stock from an outperform rating to a sector perform rating. The stock has a 200-day moving average of C$11.50 and traded as low as C$10.58. ATB Cormark Capital Markets now has a C$13.25 price target on the stock, down from their previous price target of C$15.50. PHX Energy Services shares last traded at C$10.86, with a volume of 1,050,866 shares changing hands.

Insider Transactions at PHX Energy Services

In related news, insider Michael Leslie Buker sold 15,000 shares of PHX Energy Services 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 transaction, the insider owned 332,600 shares in the company, valued at approximately C$4,147,522. This trade represents a 4.32% decrease in their ownership of the stock. Also, insider John Michael Hooks sold 128,800 shares of the business’s stock in a transaction dated 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 sale, the insider owned 2,510,804 shares of the company’s stock, valued at C$30,129,648. The trade was a 4.88% decrease in their position. Over the last quarter, 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 Trading Down 14.4%

The firm has a market cap of C$496.96 million, a price-to-earnings ratio of 11.43 and a beta of 1.38. The business’s 50 day moving average price is C$12.60 and its 200-day moving average price is C$11.50. The company has a debt-to-equity ratio of 12.26, a quick ratio of 1.25 and a current ratio of 1.88.

PHX Energy Services (TSE:PHX) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported C$0.23 earnings per share (EPS) for the quarter. PHX Energy Services had a return on equity of 20.96% and a net margin of 6.39%. The firm had revenue of C$204.18 million for the quarter. Equities analysts expect that PHX Energy Services Corp. will post 1.24 EPS for the current year.

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.