PHX Energy Services (TSE:PHX) Reaches New 12-Month High – Time to Buy?

PHX Energy Services Corp. (TSE:PHX) hit a new 52-week high on Monday . The stock traded as high as C$12.94 and last traded at C$12.90, with a volume of 145751 shares changing hands. The stock had previously closed at C$12.56.

Wall Street Analyst Weigh In

PHX has been the subject of several recent research reports. ATB Cormark Capital Markets upgraded shares of PHX Energy Services from a “hold” rating to a “moderate buy” rating and upped their target price for the company from C$8.00 to C$11.75 in a research report on Wednesday, February 25th. BMO Capital Markets upped their price objective on PHX Energy Services from C$8.50 to C$10.50 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$11.13.

PHX Energy Services Trading Up 3.7%

The company has a market capitalization of C$590.69 million, a P/E ratio of 11.52 and a beta of 1.73. The company has a debt-to-equity ratio of 29.22, a current ratio of 1.88 and a quick ratio of 1.25. The business’s 50-day moving average price is C$9.32 and its two-hundred day moving average price is C$8.16.

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