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PHX Energy Rises on Profit Growth, Dividend: Calgary Mover

PHX Energy Services Corp. rose the most in three years after the Canadian oil and natural-gas drilling company said profit last year reached a record and boosted its dividend.

PHX Energy rose 15 percent to C$11.44 at the close in Toronto, the biggest gain since Jan. 30, 2009.

Earnings before interest, depreciation and amortization increased 79 percent in 2011 to C$45 million ($45.5 million) helped by a “robust” demand for drilling in North America, the company said in a statement after the close of regular trading yesterday.

The company also boosted its dividend 50 percent for this year to 72 cents a share from 48 cents, according to the statement.

PHX Energy plans to expand this year with projects in Russia, Albania and Colombia, the company said.

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