PHX Energy Services (TSE:PHX) Cut to "Sector Perform" at ATB Capital

Key Points

• PHX Energy Services was downgraded by ATB Capital from an "outperform" rating to a "sector perform" rating, with a revised price objective of C$8.50, down from C$9.50.
• The company's stock increased by 2.1% to C$7.36, with a current market capitalization of C$332.51 million.
• Insider Craig Brown sold 75,000 shares at C$7.79, reducing his ownership by 36.65% and leaving him with 129,633 shares valued over C$1 million.

PHX Energy Services (TSE:PHX - Get Free Report) was downgraded by investment analysts at ATB Capital from an "outperform" rating to a "sector perform" rating in a research note issued to investors on Thursday,BayStreet.CA reports. They presently have a C$8.50 price objective on the stock, down from their previous price objective of C$9.50. ATB Capital's price objective indicates a potential upside of 15.49% from the company's current price.

PHX Energy Services Trading Up 2.1%

PHX stock traded up C$0.15 during midday trading on Thursday, hitting C$7.36. 130,668 shares of the company's stock were exchanged, compared to its average volume of 104,274. The business has a 50-day simple moving average of C$7.66 and a two-hundred day simple moving average of C$7.92. The company has a current ratio of 1.67, a quick ratio of 1.25 and a debt-to-equity ratio of 25.99. The stock has a market capitalization of C$332.51 million, a PE ratio of 6.46 and a beta of 1.20. PHX Energy Services has a 1-year low of C$6.64 and a 1-year high of C$10.10.

Insider Transactions at PHX Energy Services

In other PHX Energy Services news, insider Craig Brown sold 75,000 shares of the firm's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of C$7.79, for a total transaction of C$584,250.00. Following the completion of the sale, the insider owned 129,633 shares of the company's stock, valued at C$1,009,841.07. This trade represents a 36.65% decrease in their ownership of the stock. 11.86% of the stock is currently owned by company insiders.

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.

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