PHX Energy Services (TSE:PHX) Reaches New 12-Month High – Here’s Why

Shares of PHX Energy Services Corp. (TSE:PHX) reached a new 52-week high on Monday . The company traded as high as C$12.94 and last traded at C$12.90, with a volume of 145751 shares trading hands. The stock had previously closed at C$12.56.

Wall Street Analysts Forecast Growth

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

PHX Energy Services Stock Performance

The stock has a market cap of C$602.49 million, a price-to-earnings ratio of 11.75 and a beta of 1.73. The company has a current ratio of 1.88, a quick ratio of 1.25 and a debt-to-equity ratio of 29.22. The firm has a fifty day simple moving average of C$9.54 and a 200-day simple moving average of C$8.24.

PHX Energy Services (TSE:PHX) last released its earnings results on Wednesday, February 25th. The company reported C$0.35 earnings per share for the quarter. The company had revenue of C$183.89 million during the quarter. PHX Energy Services had a return on equity of 24.11% and a net margin of 7.71%. Analysts forecast that PHX Energy Services Corp. will post 1.2397516 EPS for the current fiscal year.

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.