PHX Energy Services (OTCMKTS:PHXHF) Stock Price Up 6.7% – Still a Buy?

PHX Energy Services Corp. (OTCMKTS:PHXHF)’s share price traded up 6.7% during trading on Wednesday . The stock traded as high as $6.52 and last traded at $6.52. 240 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 2,439 shares. The stock had previously closed at $6.11.

PHX Energy Services Stock Performance

The company’s 50 day moving average is $6.56 and its 200 day moving average is $6.90.

PHX Energy Services Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 1st were issued a $0.141 dividend. This represents a dividend yield of 8.91%. The ex-dividend date of this dividend was Tuesday, December 31st. PHX Energy Services’s payout ratio is currently 62.88%.

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.