PHX Energy Services (TSE:PHX) Share Price Passes Below Two Hundred Day Moving Average of $8.91

PHX Energy Services Corp. (TSE:PHX) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$8.91 and traded as low as C$8.88. PHX Energy Services shares last traded at C$9.20, with a volume of 104,878 shares traded.

Analysts Set New Price Targets

Separately, BMO Capital Markets reduced their price target on shares of PHX Energy Services from C$11.50 to C$11.00 in a research report on Wednesday, February 28th.

PHX Energy Services Stock Performance

The company has a market cap of C$436.91 million, a PE ratio of 4.82 and a beta of 2.37. The company has a debt-to-equity ratio of 20.04, a quick ratio of 1.25 and a current ratio of 1.74. The firm’s 50 day moving average is C$8.94 and its 200-day moving average is C$8.91.

PHX Energy Services (TSE:PHX) last posted its quarterly earnings results on Tuesday, May 7th. The company reported C$0.37 earnings per share for the quarter, beating the consensus estimate of C$0.34 by C$0.03. PHX Energy Services had a net margin of 14.26% and a return on equity of 45.23%. The business had revenue of C$166.12 million during the quarter, compared to analysts’ expectations of C$161.25 million. On average, research analysts anticipate that PHX Energy Services Corp. will post 1.1799729 earnings per share for the current fiscal year.

PHX Energy Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.80 annualized dividend and a dividend yield of 8.70%. PHX Energy Services’s dividend payout ratio is currently 41.88%.

Insider Transactions at PHX Energy Services

In related news, Director Karen David-Green acquired 3,950 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average cost of C$8.55 per share, for a total transaction of C$33,756.31. In other PHX Energy Services news, Director Karen David-Green bought 3,950 shares of PHX Energy Services stock in a transaction on Monday, May 13th. The shares were bought at an average cost of C$8.55 per share, for a total transaction of C$33,756.31. Also, Senior Officer John Michael Hooks sold 71,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of C$9.36, for a total transaction of C$672,048.00. In the last three months, insiders have purchased 326,125 shares of company stock worth $2,850,923. 11.88% of the stock is currently owned by insiders.

About PHX Energy Services

PHX Energy Services Corp. provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally. It offers Atlas motors; Velocity Real-Time Systems that provide downhole guidance systems; Echo system; PowerDrive Orbit RSS, a rotary steerable system; performance drilling motors; P-360 Positive Pulse MWD System, a measurement while drilling (MWD) tool; and E-360 EM MWD System, a MWD tool that transmits electric signals through geological formations.