PHX Energy Services (TSE:PHX) Sets New 1-Year High – Here’s Why

PHX Energy Services Corp. (TSE:PHX)’s share price reached a new 52-week high on Tuesday . The stock traded as high as C$13.69 and last traded at C$13.66, with a volume of 63677 shares changing hands. The stock had previously closed at C$13.32.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BMO Capital Markets lifted their price target 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, February 25th. ATB Cormark Capital Markets upgraded shares of PHX Energy Services from a “hold” rating to a “moderate buy” rating and raised their target price for the company from C$8.00 to C$11.75 in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$11.13.

PHX Energy Services Trading Up 1.4%

The company has a debt-to-equity ratio of 29.22, a quick ratio of 1.25 and a current ratio of 1.88. The business has a fifty day simple moving average of C$10.25 and a 200 day simple moving average of C$8.48. The stock has a market cap of C$634.70 million, a price-to-earnings ratio of 12.38 and a beta of 1.73.

PHX Energy Services (TSE:PHX) last issued its quarterly earnings data on Wednesday, February 25th. The company reported C$0.35 earnings per share (EPS) for the quarter. The business had revenue of C$183.89 million for the quarter. PHX Energy Services had a return on equity of 24.11% and a net margin of 7.71%. As a group, equities analysts anticipate that PHX Energy Services Corp. will post 1.2397516 EPS for the current year.

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.