PHX Energy Services (OTCMKTS:PHXHF) Trading Up 6.7% – Here’s What Happened

PHX Energy Services Corp. (OTCMKTS:PHXHF)’s share price traded up 6.7% during mid-day trading on Wednesday . The company traded as high as $6.52 and last traded at $6.52. 240 shares were traded during 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 Price Performance

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

PHX Energy Services Cuts Dividend

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