BMO Capital Markets raises target price for PHX Energy Services (TSE:PHX) to C$9.50


PHX Energy Services (EAST: PHXGet a rating) had its price target raised by BMO Capital Markets from C$9.00 to C$9.50 in a report on Thursday, BayStreet.CA reports.

Separately, Stifel Nicolaus lowered his price target on PHX Energy Services shares from C$9.75 to C$9.50 in a report on Thursday.

Shares of EAST: PHX opened at C$6.69 on Thursday. The company has a market capitalization of C$320.98 million and a PE ratio of 15.20. The company has a debt ratio of 26.68, a quick ratio of 1.18 and a current ratio of 1.64. PHX Energy Services has a 52-week low of C$3.44 and a 52-week high of C$7.50. The company’s 50-day moving average is C$6.57 and its 200-day moving average is C$5.46.

PHX Energy Services (EAST: PHXGet a rating) last reported results on Wednesday, February 23. The company reported earnings per share (EPS) of C$0.17 for the quarter, beating the consensus estimate of C$0.13 by C$0.04. The company posted revenue of C$105.43 million in the quarter, compared to analyst estimates of C$99.00 million. Sell-side analysts expect PHX Energy Services to post EPS of 0.99 for the current year.

In other PHX Energy Services news, Senior Officer Michael Leslie Buker sold 40,200 shares of PHX Energy Services in a trade on Friday March 25th. The shares were sold at an average price of C$6.20, for a total value of C$249,123.42. Following the completion of the sale, the insider now directly owns 209,100 shares of the company, valued at C$1,295,813.61. Additionally, Senior Officer Cameron Michael Ritchie sold 64,121 shares of PHX Energy Services in a trade on Friday, March 18. The shares were sold at an average price of CA$6.04, for a total transaction of CA$387,419.08. Following the completion of the sale, the insider now directly owns 195,780 shares of the company, valued at C$1,182,902.76. In the past 90 days, insiders have sold 279,962 shares of the company worth $1,713,546.

About PHX Energy Services (Get a rating)

PHX Energy Services Corp. provides horizontal and directional drilling technologies and services to oil and natural gas exploration and development and production companies in Canada, the United States, Russia, Albania and the Middle East. It offers Velocity Real-Time System, a revolutionary technology that offers downhole guidance systems; Atlas Motors, a high performance drill motor; PowerDrive Orbit RSS, a rotating steerable system; P-360 Positive Pulse MWD System, a measurement-while-drilling (MWD) tool; and the E-360 EM MWD System, an MWD tool that transmits electrical signals through geological formations.

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