PHX Energy Services (OTCMKTS:PHXHF) Trading 6.7% Higher – Still a Buy?

PHX Energy Services Corp. (OTCMKTS:PHXHF) shares were up 6.7% on Wednesday . The company traded as high as $6.52 and last traded at $6.52. Approximately 240 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 2,439 shares. The stock had previously closed at $6.11.

PHX Energy Services Stock Performance

The business has a 50 day simple moving average of $6.58 and a 200-day simple moving average of $6.91.

PHX Energy Services Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 1st were issued a $0.141 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a dividend yield of 8.91%. PHX Energy Services’s dividend payout ratio (DPR) is 62.88%.

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.