PHX Energy Services (TSE:PHX) Trading 1.8% Higher – Here’s Why

Shares of PHX Energy Services Corp. (TSE:PHX) shot up 1.8% during mid-day trading on Wednesday . The company traded as high as C$9.18 and last traded at C$9.15. 111,920 shares were traded during trading, a decline of 23% from the average session volume of 144,904 shares. The stock had previously closed at C$8.99.

PHX Energy Services Price Performance

The business has a fifty day moving average price of C$8.12 and a 200 day moving average price of C$7.74. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.67 and a quick ratio of 1.25. The company has a market capitalization of C$485.66 million, a price-to-earnings ratio of 9.95 and a beta of 1.19.

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

Insider Activity

In related news, insider Michael Leslie Buker acquired 5,000 shares of the stock in a transaction that occurred on Thursday, November 27th. The shares were acquired at an average price of C$7.32 per share, for a total transaction of C$36,600.00. Following the completion of the purchase, the insider directly owned 311,100 shares of the company’s stock, valued at C$2,277,252. The trade was a 1.63% increase in their ownership of the stock. 11.86% of the stock is owned by company 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.