PHX Energy Services (TSE:PHX) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

PHX Energy Services (TSE:PHX) had its price target boosted by BMO Capital Markets from C$8.50 to C$10.50 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential downside of 4.81% from the company’s current price.

PHX Energy Services Price Performance

Shares of PHX traded up C$1.88 during trading hours on Wednesday, hitting C$11.03. The stock had a trading volume of 852,541 shares, compared to its average volume of 162,815. The company’s fifty day moving average is C$8.12 and its two-hundred day moving average is C$7.74. The stock has a market capitalization of C$498.31 million, a price-to-earnings ratio of 10.21 and a beta of 1.19. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.67 and a quick ratio of 1.25. PHX Energy Services has a 52 week low of C$6.64 and a 52 week high of C$11.23.

PHX Energy Services (TSE:PHX) last announced its quarterly earnings data on Tuesday, February 24th. The company reported C$0.35 earnings per share for the quarter. PHX Energy Services had a return on equity of 34.01% and a net margin of 11.40%.The company had revenue of C$183.89 million during the quarter. On average, analysts anticipate that PHX Energy Services will post 1.2397516 EPS for the current year.

Insider Buying and Selling at PHX Energy Services

In related news, insider Michael Leslie Buker bought 5,000 shares of the business’s stock in a transaction dated Thursday, November 27th. The stock was bought at an average price of C$7.32 per share, for a total transaction of C$36,600.00. Following the purchase, the insider owned 311,100 shares in the company, valued at C$2,277,252. This represents a 1.63% increase in their position. 11.86% of the stock is owned by insiders.

About PHX Energy Services

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.