PHX Energy Services (TSE:PHX) Sets New 1-Year High on Analyst Upgrade

Shares of PHX Energy Services Corp. (TSE:PHX) hit a new 52-week high during mid-day trading on Thursday 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$11.34 and last traded at C$11.19, with a volume of 69033 shares traded. The stock had previously closed at C$10.90.

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

PHX Energy Services Stock Up 2.6%

The company has a debt-to-equity ratio of 25.99, a quick ratio of 1.25 and a current ratio of 1.67. The firm has a market cap of C$544.39 million, a price-to-earnings ratio of 11.16 and a beta of 1.19. The business’s 50 day moving average price is C$8.37 and its 200 day moving average price is C$7.83.

PHX Energy Services (TSE:PHX) last posted its earnings results on Tuesday, February 24th. The company reported C$0.35 earnings per share (EPS) for the quarter. The firm 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%. On average, equities analysts forecast that PHX Energy Services Corp. will post 1.2397516 EPS for the current year.

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.