PHX Energy Services (TSE:PHX) Shares Down 0.9% – Here’s Why

PHX Energy Services Corp. (TSE:PHX) fell 0.9% during mid-day trading on Tuesday . The company traded as low as C$9.32 and last traded at C$9.32. 28,998 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 76,604 shares. The stock had previously closed at C$9.40.

Analyst Ratings Changes

Separately, ATB Capital decreased their target price on PHX Energy Services from C$11.75 to C$11.50 in a research note on Thursday, November 7th.

PHX Energy Services Stock Performance

The company has a current ratio of 1.62, a quick ratio of 1.25 and a debt-to-equity ratio of 20.51. The stock has a market capitalization of C$433.66 million, a P/E ratio of 5.09 and a beta of 2.32. The company’s 50-day moving average is C$9.63 and its two-hundred day moving average is C$9.54.

PHX Energy Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 8.58%. The ex-dividend date was Friday, September 27th. PHX Energy Services’s dividend payout ratio is currently 43.72%.

Insider Buying and Selling at PHX Energy Services

In other PHX Energy Services news, Senior Officer John Michael Hooks sold 58,300 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of C$9.16, for a total value of C$533,998.85. Also, Senior Officer Cameron Michael Ritchie sold 50,000 shares of PHX Energy Services stock in a transaction on Thursday, November 7th. The shares were sold at an average price of C$9.85, for a total value of C$492,250.00. 11.86% of the stock is owned by company insiders.

PHX Energy Services Company Profile

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.