ATB Capital Cuts PHX Energy Services (TSE:PHX) Price Target to C$11.75

PHX Energy Services (TSE:PHX) had its target price lowered by ATB Capital from C$12.25 to C$11.75 in a report issued on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

PHX Energy Services Stock Down 2.3 %

PHX opened at C$9.07 on Friday. The company has a fifty day moving average of C$8.96 and a two-hundred day moving average of C$8.93. The company has a debt-to-equity ratio of 20.04, a quick ratio of 1.25 and a current ratio of 1.74. PHX Energy Services has a fifty-two week low of C$5.99 and a fifty-two week high of C$9.78. The stock has a market capitalization of C$430.73 million, a price-to-earnings ratio of 4.75 and a beta of 2.37.

PHX Energy Services (TSE:PHX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported C$0.37 earnings per share for the quarter, beating the consensus estimate of C$0.34 by C$0.03. The firm had revenue of C$166.12 million during the quarter, compared to analyst estimates of C$161.25 million. PHX Energy Services had a return on equity of 45.23% and a net margin of 14.26%. On average, research analysts expect that PHX Energy Services will post 1.1799729 earnings per share for the current year.

PHX Energy Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, June 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.82%. PHX Energy Services’s dividend payout ratio (DPR) is 41.88%.

Insider Buying and Selling

In related news, Director Garrett Wright purchased 3,700 shares of PHX Energy Services stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average price of C$9.07 per share, for a total transaction of C$33,573.06. In other news, Director Karen David-Green bought 3,950 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of C$8.55 per share, for a total transaction of C$33,756.31. Also, Director Garrett Wright purchased 3,700 shares of the stock in a transaction dated Friday, May 17th. The stock was purchased at an average cost of C$9.07 per share, for a total transaction of C$33,573.06. In the last quarter, insiders purchased 326,125 shares of company stock valued at $2,850,923. 11.88% of the stock is owned by corporate insiders.

About PHX Energy Services

PHX Energy Services Corp. provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally. It offers Atlas motors; Velocity Real-Time Systems that provide downhole guidance systems; Echo system; PowerDrive Orbit RSS, a rotary steerable system; performance drilling motors; P-360 Positive Pulse MWD System, a measurement while drilling (MWD) tool; and E-360 EM MWD System, a MWD tool that transmits electric signals through geological formations.