PHX Energy Services (TSE:PHX) Price Target Raised to C$12.25

PHX Energy Services (TSE:PHX) had its price objective boosted by ATB Capital from C$11.75 to C$12.25 in a research report sent to investors on Thursday morning, BayStreet.CA reports.

PHX Energy Services Stock Performance

Shares of PHX stock opened at C$9.93 on Thursday. The company has a market cap of C$471.58 million, a price-to-earnings ratio of 5.20 and a beta of 2.37. PHX Energy Services has a 52 week low of C$7.00 and a 52 week high of C$10.67. The company has a quick ratio of 1.25, a current ratio of 1.74 and a debt-to-equity ratio of 20.04. The firm has a 50 day moving average of C$9.46 and a 200-day moving average of C$9.23.

PHX Energy Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid 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 of this dividend was Friday, June 28th. PHX Energy Services’s payout ratio is 41.88%.

Insider Buying and Selling

In other news, Director Garrett Wright acquired 3,700 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average price of C$9.07 per share, with a total value of C$33,573.06. In related news, Director Garrett Wright bought 3,700 shares of PHX Energy Services stock in a transaction on Friday, May 17th. The stock was acquired at an average price of C$9.07 per share, with a total value of C$33,573.06. Also, insider PHX Energy Services Corp bought 317,600 shares of PHX Energy Services stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of C$8.74 per share, with a total value of C$2,775,824.00. 11.88% of the stock is currently owned by 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.