PHX Energy Services (TSE:PHX) Reaches New 12-Month High on Analyst Upgrade

PHX Energy Services Corp. (TSE:PHX)’s stock price reached a new 52-week high on Thursday after ATB Cormark Capital Markets upgraded the stock from a hold rating to a moderate buy rating. ATB Cormark Capital Markets now has a C$11.75 price target on the stock, up from their previous price target of C$8.00. PHX Energy Services traded as high as C$11.34 and last traded at C$11.19, with a volume of 69033 shares trading hands. The stock had previously closed at C$10.90.

Separately, BMO Capital Markets raised their price objective on shares of PHX Energy Services from C$8.50 to C$10.50 and gave the stock an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of C$11.13.

PHX Energy Services Trading Up 3.0%

The business has a 50 day simple moving average of C$8.19 and a 200-day simple moving average of C$7.77. The company has a current ratio of 1.67, a quick ratio of 1.25 and a debt-to-equity ratio of 25.99. The stock has a market capitalization of C$507.35 million, a price-to-earnings ratio of 10.40 and a beta of 1.19.

PHX Energy Services (TSE:PHX) last issued its earnings results on Tuesday, February 24th. The company reported C$0.35 earnings per share (EPS) for the quarter. PHX Energy Services had a return on equity of 34.01% and a net margin of 11.40%.The business had revenue of C$183.89 million during the quarter. On average, equities analysts predict that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current year.

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.