PHX Energy Services (OTCMKTS:PHXHF) Stock Price Down 5.4% – Here’s What Happened

Shares of PHX Energy Services Corp. (OTCMKTS:PHXHF) were down 5.4% during trading on Tuesday . The company traded as low as $6.69 and last traded at $6.69. Approximately 2,409 shares traded hands during trading, a decline of 35% from the average daily volume of 3,716 shares. The stock had previously closed at $7.07.

PHX Energy Services Stock Performance

The business’s 50 day moving average price is $6.96 and its 200 day moving average price is $6.94.

PHX Energy Services Increases Dividend

The business also recently announced a dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.1471 per share. The ex-dividend date was Friday, September 27th. This represents a dividend yield of 8.24%. This is a boost from PHX Energy Services’s previous dividend of $0.15. PHX Energy Services’s payout ratio is currently 62.88%.

About PHX Energy Services

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.