PHX Energy Services (TSE:PHX) Sets New 12-Month High at $10.48

Shares of PHX Energy Services Corp. (TSE:PHX) hit a new 52-week high during trading on Wednesday . The company traded as high as C$10.48 and last traded at C$10.42, with a volume of 22539 shares traded. The stock had previously closed at C$10.14.

Analysts Set New Price Targets

Separately, ATB Capital cut their price objective on shares of PHX Energy Services from C$12.25 to C$11.75 and set an “outperform” rating on the stock in a research report on Friday, June 28th.

PHX Energy Services Stock Performance

The stock’s 50-day moving average price is C$9.34 and its 200 day moving average price is C$9.18. The company has a debt-to-equity ratio of 20.04, a current ratio of 1.74 and a quick ratio of 1.25. The firm has a market cap of C$501.97 million, a P/E ratio of 5.53 and a beta of 2.37.

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

PHX Energy Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 7.57%. The ex-dividend date of this dividend was Friday, June 28th. PHX Energy Services’s dividend payout ratio (DPR) is currently 41.88%.

Insiders Place Their Bets

In other news, insider PHX Energy Services Corp purchased 317,600 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of C$8.74 per share, with a total value of C$2,775,824.00. In related news, insider PHX Energy Services Corp acquired 317,600 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of C$8.74 per share, for a total transaction of C$2,775,824.00. Also, Director Karen David-Green acquired 3,950 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was bought at an average price of C$8.55 per share, for a total transaction of C$33,756.31. Over the last three months, insiders have bought 326,125 shares of company stock valued at $2,850,923. 11.88% of the stock is currently 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.