PHX Energy Services (TSE:PHX) Shares Pass Above 200 Day Moving Average – Time to Sell?

PHX Energy Services Corp. (TSE:PHX) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.89 and traded as high as C$11.27. PHX Energy Services shares last traded at C$11.22, with a volume of 188,716 shares.

Analyst Upgrades and Downgrades

PHX has been the subject of several research analyst reports. ATB Cormark Capital Markets upgraded PHX Energy Services from a “hold” rating to a “moderate buy” rating and lifted their target price for the stock from C$8.00 to C$11.75 in a research note on Wednesday, February 25th. BMO Capital Markets lifted 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 note on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$11.13.

PHX Energy Services Price Performance

The company has a 50 day moving average of C$12.04 and a 200-day moving average of C$9.89. The firm has a market capitalization of C$512.29 million, a P/E ratio of 12.61 and a beta of 1.35. 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 results on Tuesday, May 5th. The company reported C$0.20 earnings per share (EPS) for the quarter. The business had revenue of C$183.89 million during the quarter. PHX Energy Services had a return on equity of 19.38% and a net margin of 6.21%. On average, sell-side analysts predict that PHX Energy Services Corp. will post 1.2397516 EPS for the current year.

Insider Activity at PHX Energy Services

In related news, insider Michael Leslie Buker sold 30,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of C$11.79, for a total value of C$353,700.00. Following the completion of the sale, the insider directly owned 326,100 shares in the company, valued at C$3,844,719. The trade was a 8.42% decrease in their position. Also, Director Myron Arthur Tetreault sold 3,400 shares of the business’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 completion of the sale, the director owned 24,000 shares of the company’s stock, valued at C$326,640. This trade represents a 12.41% decrease in their ownership of the stock. Insiders sold 235,799 shares of company stock worth $2,937,093 in the last ninety days. 11.86% of the stock is owned by company insiders.

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.