PHX Energy Services (TSE:PHX) Announces Quarterly Earnings Results

PHX Energy Services (TSE:PHX) issued its earnings results on Tuesday. The company reported C$0.23 earnings per share for the quarter, FiscalAI reports. PHX Energy Services had a return on equity of 20.96% and a net margin of 6.39%. The company had revenue of C$204.18 million for the quarter.

PHX Energy Services Stock Down 14.4%

Shares of PHX Energy Services stock opened at C$10.86 on Thursday. PHX Energy Services has a 12-month low of C$6.87 and a 12-month high of C$14.17. The company has a quick ratio of 1.25, a current ratio of 1.88 and a debt-to-equity ratio of 12.26. The stock has a 50 day moving average price of C$12.60 and a two-hundred day moving average price of C$11.50. The stock has a market capitalization of C$496.96 million, a P/E ratio of 11.43 and a beta of 1.38.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets lowered shares of PHX Energy Services from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$15.50 to C$13.25 in a research note on Wednesday. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$11.88.

Insider Buying and Selling

In other PHX Energy Services news, insider John Michael Hooks sold 128,800 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of C$12.00, for a total transaction of C$1,545,600.00. Following the completion of the transaction, the insider owned 2,510,804 shares of the company’s stock, valued at C$30,129,648. The trade was a 4.88% decrease in their position. Also, insider Michael Leslie Buker sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of C$12.47, for a total value of C$187,050.00. Following the transaction, the insider owned 332,600 shares of the company’s stock, valued at approximately C$4,147,522. This trade represents a 4.32% decrease in their ownership of the stock. In the last three months, insiders sold 341,100 shares of company stock worth $4,128,300. Insiders own 11.86% of the company’s stock.

About PHX Energy Services

PHX Energy is a growth oriented, public oil and natural gas services company. The Corporation, through its directional drilling subsidiary entities provides horizontal and directional drilling services to oil and natural gas exploration and development companies principally in Canada and the US. In connection with the services it provides, PHX Energy engineers, develops and manufactures leading-edge technologies. In recent years, PHX Energy has developed various new technologies that have positioned the Corporation as a technology leader in the horizontal and directional drilling services sector in North America.