PHX Energy Services (TSE:PHX) Hits New 52-Week High – Should You Buy?

PHX Energy Services Corp. (TSE:PHX)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$12.77 and last traded at C$12.70, with a volume of 62474 shares changing hands. The stock had previously closed at C$12.56.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PHX. BMO Capital Markets boosted 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 report on Wednesday, February 25th. ATB Cormark Capital Markets upgraded PHX Energy Services from a “hold” rating to a “moderate buy” rating and increased their target price for the company from C$8.00 to C$11.75 in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, PHX Energy Services has an average rating of “Buy” and an average target price of C$11.13.

PHX Energy Services Stock Down 1.2%

The company’s 50 day simple moving average is C$9.01 and its 200-day simple moving average is C$8.06. The company has a current ratio of 1.88, a quick ratio of 1.25 and a debt-to-equity ratio of 29.22. The firm has a market cap of C$567.55 million, a P/E ratio of 11.07 and a beta of 1.73.

PHX Energy Services (TSE:PHX) last released its quarterly earnings data on Tuesday, February 24th. The company reported C$0.35 earnings per share for the quarter. The firm had revenue of C$183.89 million during the quarter. PHX Energy Services had a net margin of 7.71% and a return on equity of 24.11%. Research analysts forecast that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current fiscal year.

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.