PHX Energy Services (TSE:PHX) Upgraded by ATB Cormark Capital Markets to Outperform Rating

PHX Energy Services (TSE:PHX) was upgraded by analysts at ATB Cormark Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has a C$11.75 price objective on the stock, up from their previous price objective of C$8.00. ATB Cormark Capital Markets’ target price suggests a potential upside of 6.53% from the stock’s previous close.

Separately, BMO Capital Markets boosted their price target on shares of PHX Energy Services from C$8.50 to C$10.50 and gave the stock an “outperform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$11.13.

PHX Energy Services Stock Performance

Shares of PHX Energy Services stock traded up C$1.88 during midday trading on Wednesday, hitting C$11.03. The company had a trading volume of 852,541 shares, compared to its average volume of 162,815. The stock has a market cap of C$498.31 million, a price-to-earnings ratio of 10.21 and a beta of 1.19. PHX Energy Services has a 12-month low of C$6.64 and a 12-month high of C$11.23. The company has a quick ratio of 1.25, a current ratio of 1.67 and a debt-to-equity ratio of 25.99. The company has a fifty day simple moving average of C$8.12 and a 200 day simple moving average of C$7.74.

PHX Energy Services (TSE:PHX) last released 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 for the quarter. PHX Energy Services had a return on equity of 34.01% and a net margin of 11.40%. As a group, analysts predict that PHX Energy Services will post 1.2397516 earnings per share for the current fiscal year.

Insider Buying and Selling at PHX Energy Services

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