PHX Energy Services (TSE:PHX) Stock Price Down 6.9% – Time to Sell?

PHX Energy Services Corp. (TSE:PHX)’s share price dropped 6.9% during trading on Wednesday . The company traded as low as C$11.12 and last traded at C$11.68. Approximately 160,365 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 231,073 shares. The stock had previously closed at C$12.54.

Wall Street Analysts Forecast Growth

PHX has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price objective on shares of PHX Energy Services from C$8.50 to C$10.50 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. ATB Cormark Capital Markets raised shares of PHX Energy Services from a “hold” rating to a “moderate buy” rating and raised their price objective for the stock from C$8.00 to C$11.75 in a research note on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, PHX Energy Services has a consensus rating of “Buy” and a consensus target price of C$11.13.

PHX Energy Services Trading Down 3.7%

The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 1.84. The company has a market cap of C$503.13 million, a PE ratio of 9.81 and a beta of 1.35. The business’s 50-day simple moving average is C$12.40 and its 200-day simple moving average is C$9.41.

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

Insider Activity at PHX Energy Services

In other PHX Energy Services news, Director Myron Arthur Tetreault sold 3,400 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of C$13.61, for a total value of C$46,274.00. Following the completion of the sale, the director owned 24,000 shares in the company, valued at C$326,640. This represents a 12.41% decrease in their position. Also, insider Craig Brown sold 50,000 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of C$13.75, for a total transaction of C$687,500.00. Following the completion of the sale, the insider owned 129,633 shares of the company’s stock, valued at approximately C$1,782,453.75. The trade was a 27.83% decrease in their position. Insiders have sold 103,633 shares of company stock worth $1,421,738 in the last quarter. 11.86% of the stock is owned by corporate 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.