PHX Energy Services (TSE:PHX) Sets New 52-Week High – Should You Buy?

PHX Energy Services Corp. (TSE:PHX) shares reached a new 52-week high on Tuesday . The company traded as high as C$13.69 and last traded at C$13.66, with a volume of 63677 shares trading hands. The stock had previously closed at C$13.32.

Analyst Upgrades and Downgrades

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

PHX Energy Services Trading Up 3.8%

The company has a debt-to-equity ratio of 29.22, a current ratio of 1.88 and a quick ratio of 1.25. The stock’s 50-day moving average price is C$10.01 and its 200 day moving average price is C$8.40. The firm has a market capitalization of C$626.99 million, a PE ratio of 12.23 and a beta of 1.73.

PHX Energy Services (TSE:PHX) last issued its earnings results on Wednesday, February 25th. The company reported C$0.35 earnings per share for the quarter. PHX Energy Services had a return on equity of 24.11% and a net margin of 7.71%.The business had revenue of C$183.89 million during the quarter. On average, sell-side analysts expect that PHX Energy Services Corp. will post 1.2397516 EPS for the current fiscal 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.