ATB Capital Has Lowered Expectations for PHX Energy Services (TSE:PHX) Stock Price

PHX Energy Services (TSE:PHX) had its price objective cut by ATB Capital from C$11.75 to C$11.50 in a research note published on Thursday,BayStreet.CA reports.

PHX Energy Services Trading Down 0.6 %

PHX opened at C$9.95 on Thursday. The stock has a market capitalization of C$462.97 million, a P/E ratio of 5.44 and a beta of 2.32. PHX Energy Services has a 12 month low of C$7.91 and a 12 month high of C$10.70. The firm’s fifty day simple moving average is C$9.55 and its 200 day simple moving average is C$9.44. The company has a current ratio of 1.62, a quick ratio of 1.25 and a debt-to-equity ratio of 20.51.

PHX Energy Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.20 per share. The ex-dividend date was Friday, September 27th. This represents a $0.80 annualized dividend and a yield of 8.04%. 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 the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of C$9.85, for a total transaction of C$492,250.00. In other PHX Energy Services news, Senior Officer Cameron Michael Ritchie sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of C$9.85, for a total transaction of C$492,250.00. Also, Senior Officer John Michael Hooks sold 58,300 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of C$9.16, for a total transaction of C$533,998.85. Insiders have sold 113,200 shares of company stock valued at $1,075,396 in the last three months. 11.86% of the stock is currently owned by corporate insiders.

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.