PHX Energy Services (TSE:PHX) Shares Cross Above 200 Day Moving Average – Should You Sell?

PHX Energy Services Corp. (TSE:PHX)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$10.23 and traded as high as C$10.80. PHX Energy Services shares last traded at C$10.65, with a volume of 206,132 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PHX shares. BMO Capital Markets raised their target price on shares of PHX Energy Services from C$8.50 to C$10.50 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. ATB Cormark Capital Markets upgraded shares of 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 data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$11.13.

PHX Energy Services Stock Performance

The firm’s 50-day simple moving average is C$11.57 and its two-hundred day simple moving average is C$10.23. The company has a market cap of C$486.27 million, a PE ratio of 11.97 and a beta of 1.13. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 41.56.

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

Insider Activity

In other news, Director Myron Arthur Tetreault sold 3,400 shares of the company’s stock in a transaction 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 sale, the director directly owned 24,000 shares of the company’s stock, valued at C$326,640. This represents a 12.41% decrease in their position. Also, insider Cameron Michael Ritchie sold 9,900 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of C$11.31, for a total transaction of C$111,969.00. Following the completion of the sale, the insider directly owned 111,100 shares in the company, valued at C$1,256,541. This trade represents a 8.18% decrease in their ownership of the stock. Insiders have sold 235,799 shares of company stock valued at $2,937,093 in the last ninety days. Insiders own 11.86% of the company’s stock.

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.