Recent Insider Transactions • Jun 07
President recently bought CA$73k worth of stock On the 5th of June, Michael Buker bought around 7k shares on-market at roughly CA$11.23 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Michael has been a net seller over the last 12 months, reducing personal holdings by CA$85k. Recent Insider Transactions Derivative • May 26
President exercised options and sold CA$169k worth of stock On the 22nd of May, Michael Buker exercised 30k options at a strike price of around CA$6.16 and sold these shares for an average price of CA$11.79 per share. This trade did not impact their existing holding. For the year to December 2019, Michael's total compensation was 16% salary and 84% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2025, Michael's direct individual holding has increased from 371.14k shares to 381.24k. Company insiders have collectively sold CA$18m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • May 11
Senior VP of Finance recently sold CA$452k worth of stock On the 7th of May, Cameron Ritchie sold around 40k shares on-market at roughly CA$11.31 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$1.3m. This was Cameron's only on-market trade for the last 12 months. Reported Earnings • May 06
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: CA$0.20 (down from CA$0.44 in 1Q 2025). Revenue: CA$183.9m (down 5.1% from 1Q 2025). Net income: CA$8.94m (down 56% from 1Q 2025). Profit margin: 4.9% (down from 10% in 1Q 2025). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 30%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Price Target Changed • May 05
Price target increased by 7.3% to CA$14.75 Up from CA$13.75, the current price target is an average from 3 analysts. New target price is 18% above last closing price of CA$12.54. Stock is up 66% over the past year. The company is forecast to post earnings per share of CA$0.99 for next year compared to CA$1.21 last year. Recent Insider Transactions • Apr 07
Executive Chairman recently sold CA$1.3m worth of stock On the 1st of April, John Hooks sold around 100k shares on-market at roughly CA$13.17 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by CA$16m. Upcoming Dividend • Mar 09
Upcoming dividend of CA$0.20 per share Eligible shareholders must have bought the stock before 16 March 2026. Payment date: 01 April 2026. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 6.4%. Within top quartile of Canadian dividend payers (5.6%). Higher than average of industry peers (1.7%). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to CA$11.90, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Energy Services industry in Canada. Total returns to shareholders of 96% over the past three years. Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: CA$1.21 (vs CA$1.17 in FY 2024) Full year 2025 results: EPS: CA$1.21 (up from CA$1.17 in FY 2024). Revenue: CA$709.6m (up 7.6% from FY 2024). Net income: CA$54.7m (flat on FY 2024). Profit margin: 7.7% (down from 8.3% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Price Target Changed • Feb 25
Price target increased by 20% to CA$11.42 Up from CA$9.50, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of CA$10.90. Stock is up 21% over the past year. The company is forecast to post earnings per share of CA$0.99 for next year compared to CA$1.21 last year. Recent Insider Transactions • Dec 18
President recently bought CA$255k worth of stock On the 15th of December, Michael Buker bought around 35k shares on-market at roughly CA$7.27 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth CA$570k. Michael has been a buyer over the last 12 months, purchasing a net total of CA$94k worth in shares. Announcement • Dec 15
PHX Energy Services Corp. Announces Quarterly Dividend, Payable on January 15, 2026 PHX Energy Services Corp. announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per common share designated as an “eligible dividend” within the meaning of subsection 89(1) of the Income Tax Act (Canada), payable on January 15, 2026, to shareholders of record at the close of business on December 31, 2025. Recent Insider Transactions • Dec 01
Executive Chairman recently bought CA$201k worth of stock On the 28th of November, John Hooks bought around 28k shares on-market at roughly CA$7.30 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, John has been a net seller over the last 12 months, reducing personal holdings by CA$15m. Recent Insider Transactions Derivative • Nov 26
Executive Chairman exercised options to buy CA$1.1m worth of stock. On the 21st of November, John Hooks exercised options to buy 150k shares at a strike price of around CA$3.85, costing a total of CA$578k. This transaction amounted to 5.5% of their direct individual holding at the time of the trade. Since March 2025, John's direct individual holding has decreased from 4.66m shares to 2.88m. Company insiders have collectively sold CA$16m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: CA$0.19 (vs CA$0.22 in 3Q 2024) Third quarter 2025 results: EPS: CA$0.19 (down from CA$0.22 in 3Q 2024). Revenue: CA$164.3m (up 2.3% from 3Q 2024). Net income: CA$8.46m (down 17% from 3Q 2024). Profit margin: 5.1% (down from 6.3% in 3Q 2024). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Oct 05
Chief Technology Officer recently sold CA$584k worth of stock On the 2nd of October, Craig Brown sold around 75k shares on-market at roughly CA$7.79 per share. This transaction amounted to 37% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$3.8m. Insiders have been net sellers, collectively disposing of CA$17m more than they bought in the last 12 months. Declared Dividend • Sep 17
Second quarter dividend of CA$0.20 announced Dividend of CA$0.20 is the same as last year. Ex-date: 29th September 2025 Payment date: 15th October 2025 Dividend yield will be 10%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (69% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 16% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 16
PHX Energy Services Corp. Announces Quarterly Dividend, Payable on October 15, 2025 PHX Energy Services Corp. announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per common share designated as an “eligible dividend” within the meaning of subsection 89(1) of the Income Tax Act (Canada), payable on October 15, 2025, to shareholders of record at the close of business on September 30, 2025. Recent Insider Transactions • Aug 24
Executive Chairman recently sold CA$3.8m worth of stock On the 21st of August, John Hooks sold around 500k shares on-market at roughly CA$7.52 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by CA$16m. Reported Earnings • Aug 06
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: CA$0.19 (down from CA$0.27 in 2Q 2024). Revenue: CA$167.7m (up 8.7% from 2Q 2024). Net income: CA$8.52m (down 34% from 2Q 2024). Profit margin: 5.1% (down from 8.4% in 2Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 48%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jul 11
Price target decreased by 7.2% to CA$10.67 Down from CA$11.50, the current price target is an average from 3 analysts. New target price is 29% above last closing price of CA$8.26. Stock is down 12% over the past year. The company is forecast to post earnings per share of CA$1.46 for next year compared to CA$1.17 last year. Recent Insider Transactions • Jun 22
Executive Chairman recently sold CA$176k worth of stock On the 19th of June, John Hooks sold around 20k shares on-market at roughly CA$8.87 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth CA$2.4m. John has been a net seller over the last 12 months, reducing personal holdings by CA$8.6m. Declared Dividend • Jun 18
First quarter dividend of CA$0.20 announced Dividend of CA$0.20 is the same as last year. Ex-date: 30th June 2025 Payment date: 15th July 2025 Dividend yield will be 9.0%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (65% earnings payout ratio) but not covered by cash flows (293% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 13% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 13
PHX Energy Services Corp. Announces Quarterly Dividend, Payable on July 15, 2025 PHX Energy Services Corp. announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per common share designated as an “eligible dividend” within the meaning of subsection 89(1) of the Income Tax Act (Canada), payable on July 15, 2025, to shareholders of record at the close of business on June 30, 2025. Recent Insider Transactions • Jun 03
Chief Technology Officer recently sold CA$1.0m worth of stock On the 2nd of June, Craig Brown sold around 125k shares on-market at roughly CA$8.01 per share. This transaction amounted to 38% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$2.4m. Insiders have been net sellers, collectively disposing of CA$4.5m more than they bought in the last 12 months. New Risk • May 16
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$2.4m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (293% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.3% net profit margin). Significant insider selling over the past 3 months (CA$2.4m sold). Recent Insider Transactions • May 16
Executive Chairman recently sold CA$2.4m worth of stock On the 14th of May, John Hooks sold around 294k shares on-market at roughly CA$8.03 per share. This transaction amounted to 6.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by CA$3.3m. Price Target Changed • May 08
Price target decreased by 8.5% to CA$10.83 Down from CA$11.83, the current price target is an average from 3 analysts. New target price is 39% above last closing price of CA$7.81. Stock is down 11% over the past year. The company is forecast to post earnings per share of CA$1.55 for next year compared to CA$1.17 last year. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CA$7.62, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Energy Services industry in Canada. Total returns to shareholders of 45% over the past three years. Declared Dividend • Mar 19
Fourth quarter dividend of CA$0.20 announced Dividend of CA$0.20 is the same as last year. Ex-date: 31st March 2025 Payment date: 15th April 2025 Dividend yield will be 8.9%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (69% earnings payout ratio) but not covered by cash flows (320% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 34% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 14
PHX Energy Services Corp. Announces Quarterly Dividend, Payable on April 15, 2025 PHX Energy Services Corp. announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per common share designated as an “eligible dividend” within the meaning of subsection 89(1) of the Income Tax Act (Canada), payable on April 15, 2025, to shareholders of record at the close of business on March 31, 2025. Recent Insider Transactions Derivative • Mar 09
Executive Chairman exercised options to buy CA$434k worth of stock. On the 3rd of March, John Hooks exercised options to buy 50k shares at a strike price of around CA$2.19, costing a total of CA$110k. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. Since March 2024, John's direct individual holding has decreased from 4.74m shares to 4.61m. Company insiders have collectively sold CA$9.6m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: CA$1.17 (vs CA$1.98 in FY 2023) Full year 2024 results: EPS: CA$1.17 (down from CA$1.98 in FY 2023). Revenue: CA$659.7m (flat on FY 2023). Net income: CA$54.6m (down 45% from FY 2023). Profit margin: 8.3% (down from 15% in FY 2023). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Feb 26
PHX Energy Services Corp., Annual General Meeting, May 07, 2025 PHX Energy Services Corp., Annual General Meeting, May 07, 2025. Announcement • Feb 19
PHX Energy Services Corp. Announces Executive Changes PHX Energy Services Corp. announced that John Hooks, the Corporation’s founder and current Chief Executive Officer (“CEO”) will be transitioning to Executive Board Chair effective March 1, 2025. This transition is part of the Corporation’s succession plan that has been in place for a number of years to ensure continuity in the business strategy and operations. Mr. Hooks will continue to provide mentorship and guidance to the Corporation’s executive team in his new role, while Mr. Buker will actively lead the Corporation’s future strategic development and growth. In his new role, as Executive Board Chair, Mr. Hooks will act as an advisor to Mr. Buker and the executive team and will continue to advise on long-term strategy, governance and oversight of the Corporation. Additionally, he will provide mentorship to management and actively participate in strategic stakeholder relations. With Mr. Hooks continuing to serve on the Board and remaining engaged with the executive team, the Corporation will continue to benefit from his vast wealth of knowledge and business acumen. Mr. Hooks founded the Corporation 30 years ago and it has been his vision and entrepreneurial spirit that has led PHX Energy to becoming the largest independent directional drilling company in North America. The financial and operational growth the Corporation has achieved, along with its enviable reputation, were cultivated by Mr. Hook’s leadership. The customer centric and innovative culture he built will continue to drive the Corporation in its mission and vision and his commitment to rewarding shareholders will remain at the forefront. Together with these appointments, the Board has also announced that Mr. Jeffery Shafer, Sr. VP Sales and Marketing, has been promoted to Chief Operating Officer, and Mr. Craig Brown, Sr. VP Engineering & Technology, to Chief Technology Officer. As Mr. Buker steps into the CEO role, Mr. Shafer and Mr. Brown will assume additional responsibilities related to the Corporation’s operations, business development and technology strategies. Mr. Shafer, with over 25 years of service, has played a pivotal role in driving the Corporation’s sales teams to capture significant market share in both the Canadian and US markets. His exceptional leadership has been vital in solidifying PHX Energy’s position as an industry leader. Mr. Brown, a valued member of PHX Energy for over 13 years, has been instrumental in shaping and advancing PHX Energy’s technology portfolio, a key driver in its clients’ performance. PHX Energy’s technology strategy, led by Mr. Brown and his team, differentiates the Corporation and drives market share gains and improved profitability. The Board believes that Mr. Shafer’s and Mr. Brown’s long-standing tenure with the Corporation will ensure a seamless transition during this succession process, as they continue to guide growth and innovation. Effective March 1, 2025, the Corporation’s executive team will be comprised of: Michael Buker: President and Chief Executive Officer; Cameron Ritchie: Chief Financial Officer & Sr. Vice President Finance; Craig Brown: Chief Technology Officer and Jeffery Shafer: Chief Operating Officer. The executive team have worked together for over a decade and jointly have produced the Corporation’s strong growth and operational excellence. With the team’s track record of high-functioning leadership, the fundamental focus of the Corporation’s strategies will remain on safety, innovation, customer relationships, a healthy financial position and shareholder rewards. Declared Dividend • Dec 16
Third quarter dividend of CA$0.20 announced Dividend of CA$0.20 is the same as last year. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 8.5%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (51% earnings payout ratio) but not covered by cash flows (118% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 12% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 13
PHX Energy Services Corp. Announces Quarterly Dividend, Payable on January 15, 2025 PHX Energy Services Corp. announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per common share designated as an “eligible dividend” within the meaning of subsection 89(1) of the Income Tax Act (Canada), payable on January 15, 2025, to shareholders of record at the close of business on December 31, 2024. Recent Insider Transactions Derivative • Nov 11
Senior VP of Finance exercised options and sold CA$184k worth of stock On the 7th of November, Cameron Ritchie exercised 50k options at a strike price of around CA$6.16 and sold these shares for an average price of CA$9.84 per share. This trade did not impact their existing holding. Since December 2023, Cameron's direct individual holding has decreased from 188.00k shares to 160.00k. Company insiders have collectively sold CA$14m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Nov 06
Third quarter 2024 earnings released: EPS: CA$0.22 (vs CA$0.50 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.22 (down from CA$0.50 in 3Q 2023). Revenue: CA$160.6m (down 5.2% from 3Q 2023). Net income: CA$10.2m (down 59% from 3Q 2023). Profit margin: 6.3% (down from 15% in 3Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions Derivative • Oct 02
President exercised options and sold CA$194k worth of stock On the 30th of September, Michael Buker exercised 30k options at a strike price of around CA$2.64 and sold these shares for an average price of CA$9.09 per share. This trade did not impact their existing holding. Since March 2024, Michael's direct individual holding has increased from 386.84k shares to 391.84k. Company insiders have collectively sold CA$13m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Sep 30
Chairman & CEO recently sold CA$941k worth of stock On the 26th of September, John Hooks sold around 100k shares on-market at roughly CA$9.41 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by CA$7.0m. Declared Dividend • Sep 16
Second quarter dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 27th September 2024 Payment date: 15th October 2024 Dividend yield will be 8.6%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (126% cash payout ratio). The dividend has increased by an average of 1.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 1.6% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 13
PHX Energy Services Corp. Announces Quarterly Dividend, Payable on October 15, 2024 PHX Energy Services Corp. announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per common share designated as an “eligible dividend” within the meaning of subsection 89(1) of the Income Tax Act (Canada), payable on October 15, 2024, to shareholders of record at the close of business on September 30, 2024. Recent Insider Transactions Derivative • Sep 01
President exercised options and sold CA$75k worth of stock On the 28th of August, Michael Buker exercised 10k options at a strike price of around CA$2.64 and sold these shares for an average price of CA$10.13 per share. This trade did not impact their existing holding. Since September 2023, Michael's direct individual holding has decreased from 431.84k shares to 391.84k. Company insiders have collectively sold CA$12m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Aug 07
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: CA$0.27 (down from CA$0.35 in 2Q 2023). Revenue: CA$154.2m (flat on 2Q 2023). Net income: CA$12.9m (down 29% from 2Q 2023). Profit margin: 8.4% (down from 12% in 2Q 2023). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 6.1%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.3% decline forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CA$10.40, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Energy Services industry in Canada. Total returns to shareholders of 233% over the past three years. Declared Dividend • Jun 17
First quarter dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 8.5%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but not covered by cash flows (138% cash payout ratio). The dividend has increased by an average of 1.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 2.8% over the next year. However, it would need to fall by 59% to increase the payout ratio to a potentially unsustainable range. Announcement • Jun 15
PHX Energy Services Corp. Announces Quarterly Dividend, Payable on July 15, 2024 PHX Energy Services Corp. announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per common share designated as an “eligible dividend” within the meaning of subsection 89(1) of the Income Tax Act (Canada), payable on July 15, 2024, to shareholders of record at the close of business on June 28, 2024. Recent Insider Transactions Derivative • May 14
Insider exercised options to buy CA$444k worth of stock. On the 9th of May, Craig Brown exercised options to buy 50k shares at a strike price of around CA$2.19, costing a total of CA$110k. This transaction amounted to 18% of their direct individual holding at the time of the trade. Since September 2023, Craig's direct individual holding has decreased from 579.63k shares to 309.73k. Company insiders have collectively sold CA$13m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • May 14
Consensus EPS estimates increase by 21% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from CA$1.36 to CA$1.64. Revenue forecast steady at CA$644.0m. Net income forecast to shrink 15% next year vs 0.1% decline forecast for Energy Services industry in Canada. Consensus price target broadly unchanged at CA$11.81. Share price was steady at CA$8.69 over the past week. Reported Earnings • May 08
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: EPS: CA$0.37 (down from CA$0.44 in 1Q 2023). Revenue: CA$166.1m (flat on 1Q 2023). Net income: CA$17.5m (down 22% from 1Q 2023). Profit margin: 11% (down from 14% in 1Q 2023). Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 7.5%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 9.4% decline forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 20
Upcoming dividend of CA$0.20 per share Eligible shareholders must have bought the stock before 27 March 2024. Payment date: 15 April 2024. Payout ratio is a comfortable 33% and the cash payout ratio is 97%. Trailing yield: 8.8%. Within top quartile of Canadian dividend payers (6.4%). Higher than average of industry peers (3.0%). Declared Dividend • Mar 18
Fourth quarter dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 27th March 2024 Payment date: 15th April 2024 Dividend yield will be 7.9%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but not covered by cash flows (122% cash payout ratio). The dividend has increased by an average of 1.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 5.0% over the next 3 years. However, it would need to fall by 64% to increase the payout ratio to a potentially unsustainable range. Recent Insider Transactions • Mar 15
President recently sold CA$90k worth of stock On the 12th of March, Michael Buker sold around 10k shares on-market at roughly CA$8.97 per share. This transaction amounted to 2.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Michael has been a net seller over the last 12 months, reducing personal holdings by CA$187k. Announcement • Mar 15
PHX Energy Services Corp. Announces Quarterly Dividend, Payable on April 15, 2024 PHX Energy Services Corp. announce that its Board of Directors has declared a quarterly cash dividend of $0.20 per common share payable on April 15, 2024, to shareholders of record at the close of business on March 28, 2024. Recent Insider Transactions Derivative • Mar 11
Chairman & CEO exercised options to buy CA$460k worth of stock. On the 8th of March, John Hooks exercised options to buy 50k shares at a strike price of around CA$2.81, costing a total of CA$141k. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. Since March 2023, John's direct individual holding has decreased from 5.42m shares to 5.03m. Company insiders have collectively sold CA$3.9m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Mar 06
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CA$680.5m to CA$650.6m. EPS estimate also fell from CA$1.75 per share to CA$1.36 per share. Net income forecast to shrink 19% next year vs 14% growth forecast for Energy Services industry in Canada . Consensus price target broadly unchanged at CA$11.56. Share price was steady at CA$9.16 over the past week. Announcement • Mar 02
PHX Energy Services Corp., Annual General Meeting, May 10, 2024 PHX Energy Services Corp., Annual General Meeting, May 10, 2024. Reported Earnings • Feb 29
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: CA$1.98 (up from CA$0.88 in FY 2022). Revenue: CA$656.3m (up 23% from FY 2022). Net income: CA$98.6m (up 123% from FY 2022). Profit margin: 15% (up from 8.3% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 10% decline forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions Derivative • Jan 08
President exercised options and sold CA$53k worth of stock On the 4th of January, Michael Buker exercised 10k options at a strike price of around CA$2.83 and sold these shares for an average price of CA$8.10 per share. This trade did not impact their existing holding. Since March 2023, Michael's direct individual holding has decreased from 441.84k shares to 431.84k. Company insiders have collectively sold CA$4.0m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Jan 06
Independent Lead Director recently sold CA$62k worth of stock On the 3rd of January, Myron Tetreault sold around 8k shares on-market at roughly CA$8.09 per share. This transaction amounted to 4.4% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$1.7m. Insiders have been net sellers, collectively disposing of CA$4.4m more than they bought in the last 12 months. Upcoming Dividend • Dec 21
Upcoming dividend of CA$0.20 per share at 9.9% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 15 January 2024. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 9.9%. Within top quartile of Canadian dividend payers (6.5%). Higher than average of industry peers (3.5%). Recent Insider Transactions • Nov 21
Insider recently sold CA$903k worth of stock On the 17th of November, Craig Brown sold around 100k shares on-market at roughly CA$9.03 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$2.3m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Nov 17
Senior VP of Finance exercised options and sold CA$212k worth of stock On the 14th of November, Cameron Ritchie exercised 33k options at a strike price of around CA$2.64 and sold these shares for an average price of CA$8.99 per share. This trade did not impact their existing holding. Since December 2022, Cameron's direct individual holding has increased from 170.00k shares to 188.00k. Company insiders have collectively sold CA$2.2m more than they bought, via options and on-market transactions in the last 12 months. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to CA$9.00, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Energy Services industry in Canada. Total returns to shareholders of 538% over the past three years. Recent Insider Transactions • Nov 12
Senior VP of Finance recently bought CA$148k worth of stock On the 9th of November, Cameron Ritchie bought around 18k shares on-market at roughly CA$8.20 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Cameron's only on-market trade for the last 12 months. Reported Earnings • Nov 09
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: CA$0.50 (up from CA$0.27 in 3Q 2022). Revenue: CA$169.4m (up 19% from 3Q 2022). Net income: CA$24.9m (up 85% from 3Q 2022). Profit margin: 15% (up from 9.5% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.7%. Earnings per share (EPS) also surpassed analyst estimates by 52%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 11% decline forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 71% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 09
Price target increased by 12% to CA$11.31 Up from CA$10.06, the current price target is an average from 4 analysts. New target price is 40% above last closing price of CA$8.07. Stock is down 2.1% over the past year. The company is forecast to post earnings per share of CA$1.76 for next year compared to CA$0.88 last year. Announcement • Nov 08
PHX Energy Services Corp. Approves an Increase Quarterly Dividend PHX Energy Services Corp. approved an increase to the quarterly dividend to $0.20 per share effective for thedividend payable to shareholders of record at the close of business on December 31, 2023. This is 33 percenthigher than the dividend declared on September 15, 2023 and the fifth dividend increase since the dividendprogram was reinstated in December 2020. Recent Insider Transactions Derivative • Sep 21
Insider exercised options to buy CA$1.2m worth of stock. On the 15th of September, Craig Brown exercised options to buy 150k shares at a strike price of around CA$2.76, costing a total of CA$415k. This transaction amounted to 35% of their direct individual holding at the time of the trade. Since December 2022, Craig's direct individual holding has decreased from 479.63k shares to 429.63k. Company insiders have collectively sold CA$1.8m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Sep 16
PHX Energy Services Corp. Announces Quarterly Cash Dividend, Payable on October 16, 2023 PHX Energy Services Corp. announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per common share designated as an 'eligible dividend' within the meaning of subsection 89(1) of the Income Tax Act (Canada), payable on October 16, 2023, to shareholders of record at the close of business on September 30, 2023. Recent Insider Transactions • Sep 03
Insider recently sold CA$156k worth of stock On the 1st of September, Craig Brown sold around 20k shares on-market at roughly CA$8.01 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth CA$244k. Insiders have been net sellers, collectively disposing of CA$3.3m more than they bought in the last 12 months. New Risk • Aug 20
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$80k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 0.07% per year for the foreseeable future. High level of non-cash earnings (50% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Significant insider selling over the past 3 months (CA$80k sold). Recent Insider Transactions • Aug 18
President recently sold CA$80k worth of stock On the 16th of August, Michael Buker sold around 10k shares on-market at roughly CA$7.98 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Michael has been a net buyer over the last 12 months, purchasing a net total of CA$15k worth of shares. New Risk • Aug 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.07% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 0.07% per year for the foreseeable future. High level of non-cash earnings (50% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: CA$0.35 (vs CA$0.25 in 2Q 2022) Second quarter 2023 results: EPS: CA$0.35 (up from CA$0.25 in 2Q 2022). Revenue: CA$155.6m (up 23% from 2Q 2022). Net income: CA$18.1m (up 41% from 2Q 2022). Profit margin: 12% (up from 10% in 2Q 2022). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.1% decline forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 89% per year, which means it is significantly lagging earnings growth.