ATB Cormark Capital Markets Upgrades PHX Energy Services (TSE:PHX) to Moderate Buy

PHX Energy Services (TSE:PHX) was upgraded by equities researchers at ATB Cormark Capital Markets from a “hold” rating to a “moderate buy” rating in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has a C$11.75 price objective on the stock, up from their prior price objective of C$8.00. ATB Cormark Capital Markets’ price objective would indicate a potential upside of 0.09% from the stock’s current price.

Separately, BMO Capital Markets raised their target price on PHX Energy Services from C$8.50 to C$10.50 and gave the stock an “outperform” rating in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$11.13.

PHX Energy Services Stock Up 7.7%

PHX opened at C$11.74 on Wednesday. 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 has a market cap of C$530.39 million, a price-to-earnings ratio of 10.87 and a beta of 1.19. PHX Energy Services has a twelve month low of C$6.64 and a twelve month high of C$11.98. The company’s 50-day moving average price is C$8.28 and its two-hundred day moving average price 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 earnings per share (EPS) for the quarter. The company had revenue of C$183.89 million during the quarter. PHX Energy Services had a net margin of 11.40% and a return on equity of 34.01%. As a group, equities analysts expect that PHX Energy Services will post 1.2397516 earnings per share for the current 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.