PHX Energy Services Corp. (TSE:PHX – Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.07 and traded as high as C$11.56. PHX Energy Services shares last traded at C$11.32, with a volume of 117,672 shares trading hands.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on PHX. ATB Cormark Capital Markets upgraded shares of PHX Energy Services from a “hold” rating to a “moderate buy” rating and raised their price objective for the company from C$8.00 to C$11.75 in a research report on Wednesday, February 25th. BMO Capital Markets raised their price objective on shares of PHX Energy Services from C$8.50 to C$10.50 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$11.13.
PHX Energy Services Stock Performance
PHX Energy Services (TSE:PHX – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported C$0.20 earnings per share for the quarter. The business had revenue of C$183.89 million during the quarter. PHX Energy Services had a net margin of 6.21% and a return on equity of 19.38%. As a group, equities analysts anticipate that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Myron Arthur Tetreault sold 3,400 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of C$13.61, for a total transaction of C$46,274.00. Following the completion of the sale, the director directly owned 24,000 shares of the company’s stock, valued at C$326,640. The trade was a 12.41% decrease in their ownership of the stock. Also, insider Cameron Michael Ritchie sold 9,900 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of C$11.31, for a total transaction of C$111,969.00. Following the sale, the insider directly owned 111,100 shares of the company’s stock, valued at approximately C$1,256,541. This trade represents a 8.18% decrease in their ownership of the stock. Insiders sold a total of 235,799 shares of company stock valued at $2,937,093 over the last ninety days. Insiders own 11.86% of the company’s stock.
PHX Energy Services Company Profile
PHX Energy Services Corp is a Canadian service provider company. It is principally engaged in providing horizontal and directional drilling services, as well as web-based remote electronic drilling recorder technology and services, to oil and natural gas exploration and development companies in Canada, United States, Albania, and Russia. The services provided by the company includes directional drilling and motor rentals, survey management, gyro surveying and stream services. Geographically, the company operates in Canada, United States, and International.
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