PHX Minerals (NYSE:PHX) Shares Pass Above Two Hundred Day Moving Average of $3.23

PHX Minerals Inc. (NYSE:PHX) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.23 and traded as high as $3.25. PHX Minerals shares last traded at $3.15, with a volume of 61,804 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Northland Securities cut their price objective on shares of PHX Minerals from $5.00 to $4.30 and set an “outperform” rating for the company in a research report on Friday, March 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $5.20.

PHX Minerals Price Performance

The firm has a market cap of $118.56 million, a PE ratio of 28.78 and a beta of 0.55. The company has a 50 day moving average price of $3.28 and a 200 day moving average price of $3.23. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 0.25.

PHX Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 31st were issued a dividend of $0.03 per share. The ex-dividend date was Friday, May 31st. This represents a $0.12 annualized dividend and a yield of 3.79%. PHX Minerals’s dividend payout ratio (DPR) is currently 109.10%.

Insider Activity

In related news, Director Mark T. Behrman acquired 23,000 shares of PHX Minerals stock in a transaction dated Monday, March 25th. The shares were acquired at an average cost of $3.22 per share, for a total transaction of $74,060.00. Following the completion of the transaction, the director now directly owns 173,704 shares of the company’s stock, valued at $559,326.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have acquired 29,000 shares of company stock worth $93,860 over the last ninety days. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Ancora Advisors LLC grew its position in shares of PHX Minerals by 1.5% in the third quarter. Ancora Advisors LLC now owns 321,948 shares of the oil and gas producer’s stock valued at $1,172,000 after purchasing an additional 4,728 shares during the period. Empowered Funds LLC lifted its holdings in shares of PHX Minerals by 8.2% during the 1st quarter. Empowered Funds LLC now owns 113,458 shares of the oil and gas producer’s stock worth $387,000 after acquiring an additional 8,575 shares during the period. Perritt Capital Management Inc. boosted its position in shares of PHX Minerals by 10.7% in the third quarter. Perritt Capital Management Inc. now owns 93,115 shares of the oil and gas producer’s stock worth $339,000 after acquiring an additional 8,972 shares during the last quarter. PFG Investments LLC purchased a new stake in PHX Minerals in the first quarter valued at approximately $82,000. Finally, Ritholtz Wealth Management increased its position in PHX Minerals by 220.4% during the fourth quarter. Ritholtz Wealth Management now owns 35,438 shares of the oil and gas producer’s stock worth $114,000 after purchasing an additional 24,378 shares during the last quarter. Hedge funds and other institutional investors own 38.19% of the company’s stock.

About PHX Minerals

PHX Minerals Inc operates as a natural gas and oil mineral company in the United States. The company produces and sells natural gas, crude oil, and natural gas liquids. Its principal properties are located in Oklahoma, Texas, Louisiana, North Dakota, and Arkansas. The company sells its products to various purchasers, including pipeline and marketing companies.