PHX Energy Services (TSE:PHX) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

PHX Energy Services Corp. (TSE:PHX)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.07 and traded as high as C$11.56. PHX Energy Services shares last traded at C$11.32, with a volume of 117,672 shares.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PHX. BMO Capital Markets lifted 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, February 25th. ATB Cormark Capital Markets raised PHX Energy Services from a “hold” rating to a “moderate buy” rating and lifted their price objective for the company from C$8.00 to C$11.75 in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$11.13.

PHX Energy Services Price Performance

The company has a debt-to-equity ratio of 41.56, a quick ratio of 1.25 and a current ratio of 1.92. The company has a market cap of C$516.86 million, a price-to-earnings ratio of 12.72 and a beta of 1.13. The business has a fifty day moving average price of C$11.78 and a 200 day moving average price of C$10.07.

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

Insider Activity at PHX Energy Services

In other news, insider Craig Brown sold 50,000 shares of the business’s stock in a transaction 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 transaction, 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. Also, insider Cameron Michael Ritchie sold 33,333 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of C$11.36, for a total value of C$378,662.88. Following the transaction, the insider directly owned 100,000 shares of the company’s stock, valued at C$1,136,000. This trade represents a 25.00% decrease in their position. Insiders have sold 235,799 shares of company stock worth $2,937,093 in the last three months. 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.