Cameron Michael Ritchie Sells 33,333 Shares of PHX Energy Services (TSE:PHX) Stock

PHX Energy Services Corp. (TSE:PHX) insider Cameron Michael Ritchie sold 33,333 shares of PHX Energy Services stock in a transaction on Thursday, May 7th. The shares were sold at an average price of C$11.36, for a total value of C$378,662.88. Following the completion of the transaction, the insider directly owned 100,000 shares of the company’s stock, valued at C$1,136,000. This represents a 25.00% decrease in their ownership of the stock.

Cameron Michael Ritchie also recently made the following trade(s):

• On Thursday, May 7th, Cameron Michael Ritchie sold 16,666 shares of PHX Energy Services stock. The shares were sold at an average price of C$11.33, for a total value of C$188,825.78.
• On Thursday, May 7th, Cameron Michael Ritchie sold 16,667 shares of PHX Energy Services stock. The shares were sold at an average price of C$11.40, for a total value of C$190,003.80.
• On Thursday, May 7th, Cameron Michael Ritchie sold 9,500 shares of PHX Energy Services stock. The shares were sold at an average price of C$11.25, for a total value of C$106,875.00.
• On Thursday, May 7th, Cameron Michael Ritchie sold 9,900 shares of PHX Energy Services stock. The shares were sold at an average price of C$11.31, for a total value of C$111,969.00.
• On Thursday, May 7th, Cameron Michael Ritchie sold 5,100 shares of PHX Energy Services stock. The shares were sold at an average price of C$11.38, for a total value of C$58,038.00.
• On Thursday, May 7th, Cameron Michael Ritchie sold 6,000 shares of PHX Energy Services stock. The stock was sold at an average price of C$11.38, for a total value of C$68,280.00.

PHX Energy Services Price Performance

Shares of PHX Energy Services stock traded up C$0.14 during trading on Monday, reaching C$11.23. 285,473 shares of the company’s stock were exchanged, compared to its average volume of 238,682. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.25 and a current ratio of 1.92. PHX Energy Services Corp. has a 1-year low of C$6.87 and a 1-year high of C$14.17. The company has a market cap of C$509.48 million, a P/E ratio of 12.62 and a beta of 1.35. The firm’s 50-day moving average price is C$12.40 and its 200 day moving average price is C$9.41.

PHX Energy Services (TSE:PHX) last posted its quarterly earnings results on Tuesday, May 5th. The company reported C$0.20 EPS for the quarter. PHX Energy Services had a return on equity of 19.38% and a net margin of 6.21%.The company had revenue of C$183.89 million during the quarter. As a group, research analysts anticipate that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PHX shares. BMO Capital Markets boosted their price target on PHX Energy Services from C$8.50 to C$10.50 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. ATB Cormark Capital Markets raised PHX Energy Services from a “hold” rating to a “moderate buy” rating and boosted their price target for the stock from C$8.00 to C$11.75 in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$11.13.

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.