PHX Energy Services (TSE:PHX) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• PHX's stock recently climbed above its 200-day moving average (200‑day = C$9.29), trading as high as C$12.57 and last at C$12.49; the company has a market cap of C$566.7M and a P/E of 11.05.
• Brokerages have upgraded PHX—BMO and ATB Cormark raised ratings/targets—and the stock carries a consensus Buy rating, though the average analyst target (C$11.13) is below the current share price.
• Insiders have been net sellers recently, offloading 103,633 shares (~C$1.42M) in the past 90 days (including two director sales), while insiders still hold 11.86% of the company.

PHX Energy Services Corp. (TSE:PHX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.29 and traded as high as C$12.57. PHX Energy Services shares last traded at C$12.49, with a volume of 384,274 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PHX. BMO Capital Markets boosted their price target on PHX Energy Services from C$8.50 to C$10.50 and gave the company an "outperform" rating in a report on Wednesday, February 25th. ATB Cormark Capital Markets upgraded PHX Energy Services from a "hold" rating to a "moderate buy" rating and boosted their price target for the company from C$8.00 to C$11.75 in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of C$11.13.

PHX Energy Services Trading Up 1.5%

The company has a market capitalization of C$566.65 million, a P/E ratio of 11.05 and a beta of 1.17. The business has a fifty day moving average price of C$12.22 and a 200 day moving average price of C$9.29. The company has a quick ratio of 1.25, a current ratio of 1.88 and a debt-to-equity ratio of 29.22.

PHX Energy Services (TSE:PHX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported C$0.35 EPS for the quarter. The company had revenue of C$183.89 million for the quarter. PHX Energy Services had a return on equity of 24.11% and a net margin of 7.71%. On average, analysts expect that PHX Energy Services Corp. will post 1.2397516 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Myron Arthur Tetreault sold 3,400 shares of the company's stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of C$13.61, for a total transaction of C$46,274.00. Following the sale, the director owned 24,000 shares in the company, valued at approximately C$326,640. This represents a 12.41% decrease in their ownership of the stock. Also, Director David Raines sold 8,333 shares of the company's stock in a transaction dated Friday, March 27th. The stock was sold at an average price of C$13.58, for a total value of C$113,162.14. Following the sale, the director owned 27,651 shares in the company, valued at C$375,500.58. The trade was a 23.16% decrease in their position. Over the last ninety days, insiders have sold 103,633 shares of company stock worth $1,421,738. 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.

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