PHX Minerals (NYSE:PHX) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

PHX Minerals Inc. (NYSE:PHX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.34 and traded as high as $3.68. PHX Minerals shares last traded at $3.68, with a volume of 42,346 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on PHX Minerals in a research note on Friday. They set a “hold” rating on the stock.

PHX Minerals Stock Performance

The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average price of $3.44 and a two-hundred day moving average price of $3.34. The company has a market capitalization of $138 million, a price-to-earnings ratio of 24.53 and a beta of 0.56.

PHX Minerals (NYSE:PHX) last announced its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $9.54 million during the quarter, compared to the consensus estimate of $7.40 million. PHX Minerals had a net margin of 14.38% and a return on equity of 5.35%. During the same quarter in the previous year, the company posted ($0.02) EPS. As a group, analysts forecast that PHX Minerals Inc. will post 0.1 EPS for the current fiscal year.

PHX Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were paid a dividend of $0.04 per share. This is an increase from PHX Minerals’s previous quarterly dividend of $0.03. The ex-dividend date was Friday, August 23rd. This represents a $0.16 annualized dividend and a dividend yield of 4.35%. PHX Minerals’s dividend payout ratio is presently 106.67%.

Institutional Trading of PHX Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ritholtz Wealth Management increased its stake in PHX Minerals by 36.5% in the second quarter. Ritholtz Wealth Management now owns 30,761 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 8,220 shares during the last quarter. 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. Oppenheimer Asset Management Inc. acquired a new stake in shares of PHX Minerals in the second quarter worth approximately $40,000. Meixler Investment Management Ltd. purchased a new stake in PHX Minerals in the second quarter valued at approximately $57,000. Finally, Dimensional Fund Advisors LP increased its position in PHX Minerals by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,631,869 shares of the oil and gas producer’s stock worth $5,320,000 after purchasing an additional 78,008 shares during the last quarter. 38.19% of the stock is owned by hedge funds and other institutional investors.

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.