PHX Minerals (NYSE:PHX) Coverage Initiated at StockNews.com

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

PHX Minerals Stock Performance

Shares of NYSE:PHX opened at $3.35 on Friday. PHX Minerals has a 12-month low of $2.95 and a 12-month high of $3.74. The company’s 50 day moving average price is $3.47 and its two-hundred day moving average price is $3.35. The firm has a market cap of $125.56 million, a PE ratio of 26.08 and a beta of 0.55. The company has a quick ratio of 3.98, a current ratio of 3.19 and a debt-to-equity ratio of 0.22.

PHX Minerals (NYSE:PHX) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $9.14 million for the quarter. PHX Minerals had a return on equity of 4.16% and a net margin of 12.33%. During the same period last year, the company earned $0.07 earnings per share.

Institutional Investors Weigh In On PHX Minerals

A number of hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC boosted 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 valued at $387,000 after acquiring an additional 8,575 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of PHX Minerals by 48.4% in the first quarter. Russell Investments Group Ltd. now owns 296,934 shares of the oil and gas producer’s stock valued at $1,013,000 after buying an additional 96,894 shares during the period. Ancora Advisors LLC raised its holdings in PHX Minerals by 52.6% in 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 buying an additional 169,470 shares during the last quarter. Meixler Investment Management Ltd. acquired a new stake in PHX Minerals during the 2nd quarter worth approximately $57,000. Finally, Ritholtz Wealth Management grew its holdings in PHX Minerals by 36.5% during the 2nd 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 during the last quarter. 38.19% of the stock is currently owned by institutional investors and hedge funds.

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.