PHX Energy Services (TSE:PHX) Trading Down 0.9% – Here’s What Happened

PHX Energy Services Corp. (TSE:PHX) shares were down 0.9% on Tuesday . The company traded as low as C$9.32 and last traded at C$9.32. Approximately 28,998 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 76,604 shares. The stock had previously closed at C$9.40.

Wall Street Analyst Weigh In

Separately, ATB Capital decreased their target price on shares of PHX Energy Services from C$11.75 to C$11.50 in a report on Thursday, November 7th.

PHX Energy Services Price Performance

The stock has a market capitalization of C$433.66 million, a PE ratio of 5.09 and a beta of 2.32. The company has a quick ratio of 1.25, a current ratio of 1.62 and a debt-to-equity ratio of 20.51. The stock’s 50-day moving average is C$9.63 and its 200 day moving average is C$9.54.

PHX Energy Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 8.58%. The ex-dividend date of this dividend was Friday, September 27th. PHX Energy Services’s dividend payout ratio (DPR) is presently 43.72%.

Insiders Place Their Bets

In other PHX Energy Services news, Senior Officer Cameron Michael Ritchie sold 50,000 shares of PHX Energy Services stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of C$9.85, for a total value of C$492,250.00. Also, Senior Officer John Michael Hooks sold 58,300 shares of the company’s 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 value of C$533,998.85. Company 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.