PHX Energy Services (TSE:PHX) Share Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• PHX Energy Services shares rose above their 200-day moving average of C$11.69, reaching C$13.31 before closing at C$13.04, although the stock was down 1.5% on the day.
• The company reported quarterly earnings of C$0.21 per share on revenue of C$178.91 million, with a 6.46% net margin and 20.25% return on equity. Analysts expect full-year earnings of C$1.24 per share.
• Insiders sold 341,100 shares worth approximately C$4.13 million during the last quarter, while insiders retain an 11.86% ownership stake.

PHX Energy Services Corp. (TSE:PHX - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$11.69 and traded as high as C$13.31. PHX Energy Services shares last traded at C$13.04, with a volume of 59,507 shares changing hands.

PHX Energy Services Trading Down 1.5%

The firm has a market capitalization of C$596.72 million, a price-to-earnings ratio of 13.73 and a beta of 1.38. The business's 50-day moving average price is C$12.47 and its 200 day moving average price is C$11.69. The company has a debt-to-equity ratio of 40.80, a current ratio of 2.07 and a quick ratio of 1.25.

PHX Energy Services (TSE:PHX - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported C$0.21 earnings per share for the quarter. The business had revenue of C$178.91 million during the quarter. PHX Energy Services had a net margin of 6.46% and a return on equity of 20.25%. On average, equities analysts forecast that PHX Energy Services Corp. will post 1.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PHX Energy Services news, insider John Michael Hooks sold 128,800 shares of the company's stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of C$12.00, for a total value of C$1,545,600.00. Following the completion of the transaction, the insider directly owned 2,510,804 shares of the company's stock, valued at C$30,129,648. This represents a 4.88% decrease in their position. Also, insider Michael Leslie Buker sold 15,000 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of C$12.47, for a total transaction of C$187,050.00. Following the completion of the transaction, the insider directly owned 332,600 shares of the company's stock, valued at approximately C$4,147,522. The trade was a 4.32% decrease in their ownership of the stock. Insiders sold a total of 341,100 shares of company stock worth $4,128,300 in the last quarter. 11.86% of the stock is currently owned by company insiders.

About PHX Energy Services

PHX Energy is a growth oriented, public oil and natural gas services company. The Corporation, through its directional drilling subsidiary entities provides horizontal and directional drilling services to oil and natural gas exploration and development companies principally in Canada and the US. In connection with the services it provides, PHX Energy engineers, develops and manufactures leading-edge technologies. In recent years, PHX Energy has developed various new technologies that have positioned the Corporation as a technology leader in the horizontal and directional drilling services sector in North America.

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