PHX Energy Services (TSX: PHX), the Materials sector company, has received a rating update from a Wall Street analyst yesterday. Vladislav Vlad, an analyst with Scotiabank, has upgraded their rating on PHX to Buy , with a C$3.75 price target.
According to TipRanks.com, Vlad is ranked #1408 out of 4853 analysts.
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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PHX Energy Services with a C$3.13 average price target.
Based on PHX Energy Services’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$4.25 million. In comparison, last year the company had a GAAP net loss of C$10.41 million.
PHX Energy Services Corp. is a public oil and natural gas services company, which engages in the provision of horizontal and directional technology and drilling services to oil and natural gas producing companies. It operates through the following geographical segments: Alberta, Saskatchewan, British Columbia, and Manitoba; Gulf Coast, Northeast and Rocky Mountain regions of the US; and Albania and Russia. Its technology include E-360 MWD System; P-360 Positive Pulse MWD System; 360 RWD System; 360 CV MWD System; Velocity Real-Time System; and Perforamnce Drilling Motors. The company was founded on October 8, 2010 and is headquartered in Calgary, Canada.
The company’s shares closed on Friday at C$2.31.
