ATB Capital Cuts PHX Energy Services (TSE:PHX) Price Target to C$11.50

PHX Energy Services (TSE:PHX - Get Free Report) had its price objective decreased by investment analysts at ATB Capital from C$11.75 to C$11.50 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. ATB Capital's target price suggests a potential upside of 15.00% from the company's current price.

PHX Energy Services Stock Performance

TSE:PHX traded up C$0.24 during trading hours on Thursday, reaching C$10.00. The company had a trading volume of 69,435 shares, compared to its average volume of 78,009. The firm has a market cap of C$465.30 million, a price-to-earnings ratio of 5.46 and a beta of 2.32. The company has a current ratio of 1.62, a quick ratio of 1.25 and a debt-to-equity ratio of 20.51. The firm's 50 day moving average price is C$9.55 and its 200-day moving average price is C$9.42. PHX Energy Services has a 52 week low of C$7.76 and a 52 week high of C$10.70.

PHX Energy Services (TSE:PHX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported C$0.26 EPS for the quarter, topping the consensus estimate of C$0.20 by C$0.06. PHX Energy Services had a return on equity of 42.04% and a net margin of 13.50%. The company had revenue of C$154.23 million during the quarter, compared to analyst estimates of C$149.00 million. On average, analysts forecast that PHX Energy Services will post 1.2397516 EPS for the current year.

Insider Transactions at PHX Energy Services

In related news, Senior Officer Michael Leslie Buker sold 4,900 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of C$10.03, for a total value of C$49,147.00. In related news, Senior Officer John Michael Hooks sold 58,300 shares of PHX Energy Services stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of C$9.16, for a total transaction of C$533,998.85. Also, Senior Officer Michael Leslie Buker sold 4,900 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of C$10.03, for a total value of C$49,147.00. Corporate insiders own 11.86% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.