PHX Energy Services (TSE:PHX) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

PHX Energy Services Corp. (TSE:PHX) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.46 and traded as high as C$9.79. PHX Energy Services shares last traded at C$9.76, with a volume of 38,463 shares traded.

Analyst Ratings Changes

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

PHX Energy Services Trading Up 3.6 %

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 company has a fifty day simple moving average of C$9.52 and a 200-day simple moving average of C$9.46. The company has a market capitalization of C$454.13 million, a PE ratio of 5.33 and a beta of 2.32.

PHX Energy Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 8.20%. The ex-dividend date was Friday, September 27th. PHX Energy Services’s payout ratio is currently 43.72%.

Insider Buying and Selling at PHX Energy Services

In other news, Senior Officer Michael Leslie Buker sold 4,900 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of C$10.03, for a total value of C$49,147.00. Also, insider PHX Energy Services Corp purchased 60,600 shares of the firm’s stock in a transaction dated Saturday, August 31st. The stock was acquired at an average cost of C$10.17 per share, for a total transaction of C$616,350.48. Insiders sold a total of 113,200 shares of company stock worth $1,075,396 in the last three months. 11.86% of the stock is owned by corporate 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.