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

StockNews.com initiated coverage on shares of PHX Minerals (NYSE:PHX) in a report issued on Saturday. The firm set a “hold” rating on the oil and gas producer’s stock.

PHX Minerals Price Performance

NYSE:PHX opened at $3.42 on Friday. 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 business’s 50-day simple moving average is $3.47 and its two-hundred day simple moving average is $3.35. The stock has a market cap of $128.25 million, a PE ratio of 22.80 and a beta of 0.54. PHX Minerals has a 52 week low of $2.95 and a 52 week high of $3.74.

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

Institutional Investors Weigh In On PHX Minerals

Large investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in shares of PHX Minerals in the second quarter worth about $40,000. James Investment Research Inc. increased its holdings in shares of PHX Minerals by 40.9% in the third quarter. James Investment Research Inc. now owns 15,500 shares of the oil and gas producer’s stock worth $52,000 after purchasing an additional 4,500 shares during the last quarter. Meixler Investment Management Ltd. bought a new stake in shares of PHX Minerals in the second quarter worth about $57,000. Ritholtz Wealth Management grew 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 worth $100,000 after acquiring an additional 8,220 shares in the last quarter. Finally, Empowered Funds LLC grew its position in PHX Minerals by 8.2% in the first 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 in the last quarter. 38.19% of the stock is owned by 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.