PHX Energy Services Corp T.PHX

Alternate Symbol(s): PHXHF

Energy Oil & Gas Drilling

PHX Energy Services Corp. is a Canada-based oil and natural gas services company. The Company, through its directional drilling subsidiary entities, provides horizontal and directional drilling services to oil and natural gas exploration and development companies principally in Canada and the United States. It also rents performance drilling motors and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, United States, Albania, and the Middle East regions. It also develops and manufactures technologies that are made available for internal operational use. The Company operates in two operating segments on a geographical basis throughout the Gulf Coast, Northeast and Rocky Mountain regions of the United States and throughout the Western Canadian Sedimentary Basin. Its technologies include PowerDrive Orbit RSS, Atlas Motors, Performance Drilling Motors, Velocity Real-Time System, Echo, 360 RWD System, and North Seeking Gyro.

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PHX Energy Services Corp > Nov 7, 2023: Q3 Record Results

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Comment by Tothemoon2on Nov 08, 2023 9:55am

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Post# 35723421

RE:RE:Nov 7, 2023: Q3 Record Results

Tothemoon2 wrote:
JohnSP wrote: "Earnings from continuing operations, adjusted EBITDA(1) from continuing operations, and adjusted EBITDA as a percentage of consolidated revenue are the best level of quarterly results on record.": https://www.phxtech.com/_files/ugd/389610_ead0a81941654b2e8f7f0e7638f11298.pdf

ANOTHER quarterly record and thus 1) increased CapEx, 2) increased quarterly dividend (again) by 33%, and 3) bought bunch shares back.
Was also nice to see ROCS status in PR for 9 months todate in 2023:
1) Excess Cash Flow = CAD70.5 mln
2) 70% of which is to be returned to shareholders under ROCS = CAD49.3 mln
3) Buybacks = CAD19.1 mln
4) Dividends = CAD22.9 mln
5) Remaining under ROCS = CAD7.3 mln.

Annualizing quarterly Excess Cashflow is CAD94 mln, current Market Cap = CAD350 mln, so 3.7 . . . . warning thinly traded stock.

Mighty fine Q. Raising the dividend (11%+) is a nice little bonus but lets hope a climbing stock price soon knocks that down to 6%. GLTA