PHX Energy Services (TSE:PHX) Stock Price Up 1.8% on Analyst Upgrade

PHX Energy Services Corp. (TSE:PHX) traded up 1.8% during trading on Wednesday after ATB Cormark Capital Markets upgraded the stock from a hold rating to a moderate buy rating. ATB Cormark Capital Markets now has a C$11.75 price target on the stock, up from their previous price target of C$8.00. PHX Energy Services traded as high as C$9.18 and last traded at C$9.15. 111,920 shares were traded during trading, a decline of 23% from the average session volume of 144,904 shares. The stock had previously closed at C$8.99.

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 company an “outperform” rating in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, PHX Energy Services has an average rating of “Buy” and a consensus target price of C$11.13.

PHX Energy Services Trading Up 7.7%

The firm has a market cap of C$530.39 million, a PE ratio of 10.87 and a beta of 1.19. 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 stock’s fifty day simple moving average is C$8.28 and its two-hundred day simple moving average is C$7.79.

PHX Energy Services (TSE:PHX) last issued its quarterly earnings results on Tuesday, February 24th. The company reported C$0.35 EPS for the quarter. PHX Energy Services had a return on equity of 34.01% and a net margin of 11.40%.The firm had revenue of C$183.89 million for the quarter. On average, sell-side analysts forecast that PHX Energy Services Corp. will post 1.2397516 EPS for the current fiscal year.

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.