PHX Energy Services (TSE:PHX) Price Target Cut to C$11.50 by Analysts at ATB Capital

PHX Energy Services (TSE:PHX) had its price target reduced by investment analysts at ATB Capital from C$11.75 to C$11.50 in a note issued to investors on Thursday,BayStreet.CA reports. ATB Capital’s price target indicates a potential upside of 15.58% from the stock’s previous close.

PHX Energy Services Stock Down 0.6 %

TSE:PHX opened at C$9.95 on Thursday. The stock has a market cap of C$462.97 million, a price-to-earnings ratio of 5.44 and a beta of 2.32. 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 50-day moving average price of C$9.55 and a two-hundred day moving average price of C$9.43. PHX Energy Services has a 1 year low of C$7.91 and a 1 year high of C$10.70.

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

Insider Buying and Selling at PHX Energy Services

In other news, insider PHX Energy Services Corp acquired 60,600 shares of the firm’s stock in a transaction that occurred on 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. In other PHX Energy Services news, insider PHX Energy Services Corp purchased 60,600 shares of the business’s stock in a transaction on Saturday, August 31st. The shares were purchased at an average cost of C$10.17 per share, with a total value of C$616,350.48. Also, Senior Officer Cameron Michael Ritchie sold 50,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of C$9.85, for a total value of C$492,250.00. Insiders have sold 113,200 shares of company stock valued at $1,075,396 in the last 90 days. 11.86% 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.