StockNews.com Begins Coverage on PHX Minerals (NYSE:PHX)

StockNews.com began coverage on shares of PHX Minerals (NYSE:PHX) in a research note issued to investors on Friday. The firm issued a hold rating on the oil and gas producer’s stock.

PHX Minerals Stock Performance

NYSE PHX opened at $3.69 on Friday. The business’s 50-day moving average price is $3.45 and its 200 day moving average price is $3.34. PHX Minerals has a twelve month low of $2.95 and a twelve month high of $3.74. The company has a market capitalization of $138.38 million, a PE ratio of 24.60 and a beta of 0.56. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 0.23.

PHX Minerals (NYSE:PHX) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. PHX Minerals had a net margin of 14.38% and a return on equity of 5.35%. The company had revenue of $9.54 million for the quarter, compared to the consensus estimate of $7.40 million. During the same quarter last year, the firm posted ($0.02) earnings per share. On average, research analysts predict that PHX Minerals will post 0.1 earnings per share for the current year.

PHX Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.34%. This is an increase from PHX Minerals’s previous quarterly dividend of $0.03. The ex-dividend date was Friday, August 23rd. PHX Minerals’s dividend payout ratio (DPR) is 106.67%.

Institutional Trading of PHX Minerals

A number of institutional investors have recently modified their holdings of PHX. Dimensional Fund Advisors LP lifted 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 valued at $5,320,000 after buying an additional 78,008 shares in the last quarter. Ancora Advisors LLC lifted its holdings in shares of PHX Minerals by 52.6% during the 1st quarter. Ancora Advisors LLC now owns 491,418 shares of the oil and gas producer’s stock valued at $1,676,000 after acquiring an additional 169,470 shares in the last quarter. Russell Investments Group Ltd. boosted its position in PHX Minerals by 48.4% during the 1st quarter. Russell Investments Group Ltd. now owns 296,934 shares of the oil and gas producer’s stock worth $1,013,000 after purchasing an additional 96,894 shares during the period. Empowered Funds LLC increased its holdings in PHX Minerals by 8.2% in the 1st quarter. Empowered Funds LLC now owns 113,458 shares of the oil and gas producer’s stock valued at $387,000 after purchasing an additional 8,575 shares in the last quarter. Finally, Ritholtz Wealth Management raised its position 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 period. Hedge funds and other institutional investors own 38.19% of the company’s stock.

PHX Minerals Company Profile

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.