PHX Energy Services - PHX . TSX
Company website: https://www.phxtech.com/
Morningstar: Stock price & financial data
This is what I thought in May 2020 when I first bought the stock...
This oil and gas drilling rig contractor had spent the last few years expanding its base of operations from its home base in Canada into the more dynamic US market and building out its fleet of high-tech “Velocity” drill rigs. After several years of losses, they reported surprisingly robust earnings in the first quarter of 2020, just before the oil sector collapsed. Hoping that those profits might return as economic activity rebounded and the world worked through its glut of oil, I initiated a position at prices under $1.00. A low p:b ratio, the potential for more sustained profitability on an economic recovery and a modest debt load had me choosing this stock to place a contrarian bet on the eventual recovery of the oil sector.
What's changed since I made my first purchase of this stock? Follow the ongoing story in the posts below...
Mentioned / Featured In The Following Blog Posts
-
Portfolio Review – October 2020 October 4, 2020
-
Portfolio Review – June 2020 May 29, 2020
-
Portfolio Review – June 2019 June 9, 2019
-
Portfolio Update: Giving Up On Canadian Oil And Gas February 4, 2019
-
Portfolio Review – January 2019 January 2, 2019
-
Portfolio Review – October 2018 October 13, 2018
-
Portfolio Review – June 2018 June 1, 2018