PHX Energy Services (TSE:PHX) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

PHX Energy Services Corp. (TSE:PHX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.23 and traded as high as C$10.80. PHX Energy Services shares last traded at C$10.65, with a volume of 206,132 shares.

Analysts Set New Price Targets

A number of research firms recently weighed in on PHX. ATB Cormark Capital Markets upgraded PHX Energy Services from a “hold” rating to a “moderate buy” rating and increased their price target for the company from C$8.00 to C$11.75 in a research note on Wednesday, February 25th. BMO Capital Markets lifted 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 report on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, PHX Energy Services has an average rating of “Buy” and an average price target of C$11.12.

PHX Energy Services Stock Performance

The firm has a market cap of C$495.40 million, a price-to-earnings ratio of 12.19 and a beta of 1.13. The stock’s 50 day moving average is C$11.54 and its 200 day moving average is C$10.26. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 41.56.

PHX Energy Services (TSE:PHX) last released its quarterly earnings results on Tuesday, May 5th. The company reported C$0.20 earnings per share for the quarter. The firm had revenue of C$183.88 million for the quarter. PHX Energy Services had a net margin of 6.21% and a return on equity of 19.38%. Analysts anticipate that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current year.

Insider Activity at PHX Energy Services

In related news, insider Cameron Michael Ritchie sold 33,333 shares of PHX Energy Services stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of C$11.36, for a total transaction of C$378,662.88. Following the completion of the sale, the insider directly owned 100,000 shares of the company’s stock, valued at approximately C$1,136,000. This trade represents a 25.00% decrease in their position. Also, insider Craig Brown sold 50,000 shares of PHX Energy Services stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of C$13.75, for a total value of C$687,500.00. Following the sale, the insider directly owned 129,633 shares of the company’s stock, valued at approximately C$1,782,453.75. The trade was a 27.83% decrease in their ownership of the stock. Insiders have sold 235,799 shares of company stock valued at $2,937,093 in the last 90 days. Corporate insiders own 11.86% of the company’s stock.

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.