ATB Capital Boosts PHX Energy Services (TSE:PHX) Price Target to C$12.25

PHX Energy Services (TSE:PHX) had its target price hoisted by ATB Capital from C$11.75 to C$12.25 in a research note issued to investors on Thursday morning, BayStreet.CA reports.

PHX Energy Services Stock Performance

Shares of PHX traded up C$0.16 during mid-day trading on Thursday, hitting C$9.93. The company’s stock had a trading volume of 50,468 shares, compared to its average volume of 75,219. PHX Energy Services has a one year low of C$7.00 and a one year high of C$10.67. The stock’s 50-day moving average is C$9.45 and its two-hundred day moving average is C$9.22. The firm has a market capitalization of C$471.58 million, a PE ratio of 5.18 and a beta of 2.37. The company has a debt-to-equity ratio of 20.04, a quick ratio of 1.25 and a current ratio of 1.74.

PHX Energy Services (TSE:PHX) last posted its quarterly earnings data on Tuesday, May 7th. The company reported C$0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.34 by C$0.03. PHX Energy Services had a net margin of 14.26% and a return on equity of 45.23%. The company had revenue of C$166.12 million for the quarter, compared to the consensus estimate of C$161.25 million. As a group, sell-side analysts anticipate that PHX Energy Services will post 1.1799729 EPS for the current year.

PHX Energy Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.06%. The ex-dividend date was Friday, June 28th. PHX Energy Services’s dividend payout ratio is presently 41.88%.

Insider Buying and Selling

In other PHX Energy Services news, Director Karen David-Green acquired 3,950 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was bought at an average price of C$8.55 per share, for a total transaction of C$33,756.31. In related news, Director Karen David-Green acquired 3,950 shares of the business’s stock in a transaction on Monday, May 13th. The stock was bought at an average cost of C$8.55 per share, with a total value of C$33,756.31. Also, insider PHX Energy Services Corp purchased 317,600 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average cost of C$8.74 per share, with a total value of C$2,775,824.00. Insiders bought a total of 325,250 shares of company stock valued at $2,843,153 over the last ninety days. 11.88% 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.