PHX Energy Services (TSE:PHX) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

PHX Energy Services Corp. (TSE:PHX) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$9.41 and traded as high as C$9.52. PHX Energy Services shares last traded at C$9.38, with a volume of 58,431 shares traded.

Wall Street Analysts Forecast Growth

Separately, ATB Capital dropped their price target on PHX Energy Services from C$12.25 to C$11.75 in a research report on Tuesday, October 22nd.

PHX Energy Services Stock Up 0.5 %

The company has a 50-day simple moving average of C$9.57 and a 200-day simple moving average of C$9.41. The firm has a market cap of C$436.45 million, a PE ratio of 5.13 and a beta of 2.32. The company has a debt-to-equity ratio of 20.51, a current ratio of 1.62 and a quick ratio of 1.25.

PHX Energy Services (TSE:PHX) last announced its earnings results on Tuesday, August 6th. The company reported C$0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.20 by C$0.06. PHX Energy Services had a return on equity of 42.04% and a net margin of 13.50%. The business had revenue of C$154.23 million during the quarter, compared to analyst estimates of C$149.00 million. Analysts expect that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current fiscal year.

PHX Energy Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 8.53%. The ex-dividend date of this dividend was Friday, September 27th. PHX Energy Services’s dividend payout ratio is presently 43.72%.

Insider Activity

In related news, insider PHX Energy Services Corp purchased 60,600 shares of the firm’s stock in a transaction dated Saturday, August 31st. The stock was purchased at an average price of C$10.17 per share, with a total value of C$616,350.48. In related news, insider PHX Energy Services Corp purchased 60,600 shares of the firm’s stock in a transaction dated Saturday, August 31st. The stock was purchased at an average price of C$10.17 per share, with a total value of C$616,350.48. Also, Senior Officer Michael Leslie Buker sold 4,900 shares of PHX Energy Services stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of C$10.03, for a total transaction of C$49,147.00. Insiders own 11.86% of the company’s stock.

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.