PHX Energy Services (TSE:PHX) Price Target Lowered to C$11.75 at ATB Capital

PHX Energy Services (TSE:PHX) had its target price reduced by ATB Capital from C$12.25 to C$11.75 in a research note published on Friday morning, BayStreet.CA reports. ATB Capital currently has an outperform rating on the stock.

PHX Energy Services Stock Down 0.1 %

Shares of TSE:PHX opened at C$9.07 on Friday. The company has a debt-to-equity ratio of 20.04, a current ratio of 1.74 and a quick ratio of 1.25. The stock has a market cap of C$430.73 million, a price-to-earnings ratio of 4.75 and a beta of 2.37. The company has a 50 day moving average of C$8.96 and a 200-day moving average of C$8.92. PHX Energy Services has a one year low of C$5.99 and a one year high of C$9.78.

PHX Energy Services (TSE:PHX) last released its earnings results on Tuesday, May 7th. The company reported C$0.37 EPS for the quarter, topping analysts’ consensus estimates of C$0.34 by C$0.03. The firm had revenue of C$166.12 million during the quarter, compared to analyst estimates of C$161.25 million. PHX Energy Services had a net margin of 14.26% and a return on equity of 45.23%. On average, sell-side analysts forecast that PHX Energy Services will post 1.1799729 earnings per share for the current year.

PHX Energy Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 8.82%. The ex-dividend date is Friday, June 28th. PHX Energy Services’s dividend payout ratio (DPR) is currently 41.88%.

Insider Transactions at PHX Energy Services

In related news, Senior Officer John Michael Hooks sold 71,800 shares of PHX Energy Services stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of C$9.36, for a total transaction of C$672,048.00. In related news, Senior Officer John Michael Hooks sold 71,800 shares of the firm’s stock in a transaction 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. Also, Director Garrett Wright bought 3,700 shares of PHX Energy Services stock in a transaction on Friday, May 17th. The shares were acquired at an average price of C$9.07 per share, for a total transaction of C$33,573.06. In the last ninety days, insiders purchased 326,125 shares of company stock worth $2,850,923. 11.88% of the stock is currently owned by company 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.