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

PHX Energy Services (TSE:PHX) issued its earnings results on Tuesday. The company reported C$0.35 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$183.89 million for the quarter. PHX Energy Services had a net margin of 11.40% and a return on equity of 34.01%.

PHX Energy Services Price Performance

PHX stock traded up C$0.74 during mid-day trading on Thursday, hitting C$11.64. 193,182 shares of the stock were exchanged, compared to its average volume of 166,468. The business has a fifty day moving average price of C$8.19 and a 200 day moving average price of C$7.77. PHX Energy Services has a 12 month low of C$6.64 and a 12 month high of C$11.73. 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 stock has a market capitalization of C$525.87 million, a price-to-earnings ratio of 10.78 and a beta of 1.19.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. ATB Cormark Capital Markets upgraded PHX Energy Services from a “hold” rating to a “moderate buy” rating and lifted their price target for the company from C$8.00 to C$11.75 in a research report on Wednesday. BMO Capital Markets raised their target price on PHX Energy Services from C$8.50 to C$10.50 and gave the stock an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$11.13.

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.