PHX Energy Services (TSE:PHX) Stock Price Breaks Below Two Hundred Day Moving Average Following Analyst Downgrade

PHX Energy Services Corp. (TSE:PHX)’s share price passed below its two hundred day moving average during trading on Wednesday after ATB Cormark Capital Markets downgraded the stock from an outperform rating to a sector perform rating. The stock has a two hundred day moving average of C$11.50 and traded as low as C$10.58. ATB Cormark Capital Markets now has a C$13.25 price target on the stock, down from their previous price target of C$15.50. PHX Energy Services shares last traded at C$10.86, with a volume of 1,050,866 shares changing hands.

Insider Activity

In other news, insider John Michael Hooks sold 128,800 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of C$12.00, for a total transaction of C$1,545,600.00. Following the completion of the transaction, the insider owned 2,510,804 shares in the company, valued at approximately C$30,129,648. This trade represents a 4.88% decrease in their position. Also, insider Michael Leslie Buker sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of C$12.47, for a total transaction of C$187,050.00. Following the sale, the insider owned 332,600 shares of the company’s stock, valued at C$4,147,522. The trade was a 4.32% decrease in their ownership of the stock. Insiders have sold 341,100 shares of company stock valued at $4,128,300 in the last ninety days. Company insiders own 11.86% of the company’s stock.

PHX Energy Services Stock Down 14.4%

The business has a fifty day moving average price of C$12.60 and a two-hundred day moving average price of C$11.50. The company has a current ratio of 1.88, a quick ratio of 1.25 and a debt-to-equity ratio of 12.26. The company has a market cap of C$496.96 million, a price-to-earnings ratio of 11.43 and a beta of 1.38.

PHX Energy Services (TSE:PHX) last released its quarterly earnings data on Tuesday, November 3rd. The company reported C$0.23 earnings per share (EPS) for the quarter. The firm had revenue of C$204.18 million during the quarter. PHX Energy Services had a return on equity of 20.96% and a net margin of 6.39%. On average, equities analysts predict that PHX Energy Services Corp. will post 1.24 earnings per share for the current year.

About PHX Energy Services

PHX Energy is a growth oriented, public oil and natural gas services company. The Corporation, through its directional drilling subsidiary entities provides horizontal and directional drilling services to oil and natural gas exploration and development companies principally in Canada and the US. In connection with the services it provides, PHX Energy engineers, develops and manufactures leading-edge technologies. In recent years, PHX Energy has developed various new technologies that have positioned the Corporation as a technology leader in the horizontal and directional drilling services sector in North America.