News

Latest News

Stocks in Play

Dividend Stocks

Breakout Stocks

Tech Insider

Forex Daily Briefing

US Markets

Stocks To Watch

The Week Ahead

SECTOR NEWS

Commodites

Commodity News

Metals & Mining News

Crude Oil News

Crypto News

M & A News

Newswires

OTC Company News

TSX Company News

Earnings Announcements

Dividend Announcements

1 Red-Hot Energy Stock to Watch This Week

PHX Energy Services (TSX:PHX) is a Calgary-based company that provides horizontal and directional
drilling technology and services to oil and natural gas exploration and development, and production
companies in North America and around the world. Shares of this energy stock have shot up 31%
month-over-month as of close on October 24. The stock has climbed 70% in the year-to-date period.

The oil and gas sector may be gearing up for a second wind as OPEC announced its intention to curtail
production in response to low prices. That should pique your interest in this red-hot energy stock right
now.

This company released its second quarter fiscal 2022 earnings on August 9. It delivered the highest
second quarter revenue in its history at $126 million – up 67% from the previous year. Meanwhile,
adjusted EBITDA came in at $25.1 million compared to $14.1 million in the second quarter of fiscal 2021.
That represented 20% of consolidated revenue. PHX Energy posted earnings of $12.8 million or $0.25
per share – up from $4.44 million or $0.08 per share in the prior year.

PHX Energy reported total revenue of $235 million in the first six months of the fiscal year compared to
$144 million in the year-to-date in 2021. Moreover, adjusted EBITDA grew 10% to $31.5 million.

Shares of this energy stock are trading in favourable value territory compared to its industry peers.
Better yet, it recently hiked its quarterly dividend to $0.10 per share. That represents a strong 5.3%
yield.