PHX Energy Services (TSE:PHX) Share Price Passes Below 200 Day Moving Average – Here’s Why

PHX Energy Services Corp. (TSE:PHX)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$10.36 and traded as low as C$10.27. PHX Energy Services shares last traded at C$10.30, with a volume of 69,789 shares traded.

PHX Energy Services Stock Down 0.8%

The stock’s 50-day moving average price is C$11.39 and its 200-day moving average price is C$10.36. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 41.56. The stock has a market cap of C$466.63 million, a price-to-earnings ratio of 11.48 and a beta of 1.13.

PHX Energy Services (TSE:PHX) last announced its earnings results on Tuesday, May 5th. The company reported C$0.20 earnings per share for the quarter. The business had revenue of C$183.88 million during the quarter. PHX Energy Services had a net margin of 6.21% and a return on equity of 19.38%. On average, sell-side analysts expect that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jeffery John Shafer sold 20,000 shares of the business’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of C$13.70, for a total value of C$274,000.00. Following the transaction, the insider directly owned 183,793 shares of the company’s stock, valued at C$2,517,964.10. The trade was a 9.81% decrease in their position. Also, insider Michael Leslie Buker sold 30,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$11.79, for a total value of C$353,700.00. Following the sale, the insider owned 326,100 shares in the company, valued at approximately C$3,844,719. The trade was a 8.42% decrease in their position. In the last quarter, insiders sold 215,166 shares of company stock valued at $2,654,052. Insiders own 11.86% of the company’s stock.

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.