Q2 2024 EPS Estimates for PHX Energy Services Corp. (TSE:PHX) Lifted by Analyst

PHX Energy Services Corp. (TSE:PHX) – Research analysts at Atb Cap Markets upped their Q2 2024 earnings estimates for shares of PHX Energy Services in a report issued on Thursday, June 27th. Atb Cap Markets analyst T. Monachello now anticipates that the company will post earnings per share of $0.20 for the quarter, up from their prior forecast of $0.15. The consensus estimate for PHX Energy Services’ current full-year earnings is $1.18 per share.

PHX Energy Services (TSE:PHX) last posted its earnings results on Tuesday, May 7th. The company reported C$0.37 EPS for the quarter, beating analysts’ consensus estimates of C$0.34 by C$0.03. The company had revenue of C$166.12 million for the quarter, compared to the consensus estimate of C$161.25 million. PHX Energy Services had a return on equity of 45.23% and a net margin of 14.26%.

Separately, ATB Capital reduced their price target on shares of PHX Energy Services from C$12.25 to C$11.75 and set an “outperform” rating on the stock in a research note on Friday, June 28th.

PHX Energy Services Stock Up 0.4 %

Shares of PHX opened at C$9.11 on Monday. The company has a current ratio of 1.74, a quick ratio of 1.25 and a debt-to-equity ratio of 20.04. The firm has a market cap of C$432.63 million, a P/E ratio of 4.77 and a beta of 2.37. The company’s 50-day moving average price is C$8.96 and its 200 day moving average price is C$8.95. PHX Energy Services has a 12-month low of C$6.00 and a 12-month high of C$9.78.

Insider Buying and Selling at PHX Energy Services

In related news, Director Karen David-Green acquired 3,950 shares of PHX Energy Services stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of C$8.55 per share, for a total transaction of C$33,756.31. In other PHX Energy Services news, insider PHX Energy Services Corp bought 317,600 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average price of C$8.74 per share, for a total transaction of C$2,775,824.00. Also, Director Karen David-Green purchased 3,950 shares of PHX Energy Services stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average cost of C$8.55 per share, with a total value of C$33,756.31. Insiders acquired 326,125 shares of company stock valued at $2,850,923 in the last 90 days. Company insiders own 11.88% of the company’s stock.

PHX Energy Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, June 28th. This represents a $0.80 dividend on an annualized basis and a yield of 8.78%. PHX Energy Services’s dividend payout ratio (DPR) is presently 41.88%.

PHX Energy Services Company Profile

PHX Energy Services Corp. provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally. It offers Atlas motors; Velocity Real-Time Systems that provide downhole guidance systems; Echo system; PowerDrive Orbit RSS, a rotary steerable system; performance drilling motors; P-360 Positive Pulse MWD System, a measurement while drilling (MWD) tool; and E-360 EM MWD System, a MWD tool that transmits electric signals through geological formations.