PHX Minerals (NYSE:PHX) Receives New Coverage from Analysts at StockNews.com

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

PHX Minerals Stock Down 1.6 %

NYSE PHX opened at $3.63 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. PHX Minerals has a fifty-two week low of $2.95 and a fifty-two week high of $3.74. The business has a 50 day moving average price of $3.45 and a two-hundred day moving average price of $3.34. The stock has a market cap of $136.13 million, a PE ratio of 24.20 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. PHX Minerals had a net margin of 14.38% and a return on equity of 5.35%. The business had revenue of $9.54 million during the quarter, compared to the consensus estimate of $7.40 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. As a group, sell-side analysts predict that PHX Minerals will post 0.1 EPS for the current fiscal year.

PHX Minerals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.16 dividend on an annualized basis and a yield of 4.41%. This is an increase from PHX Minerals’s previous quarterly dividend of $0.03. PHX Minerals’s dividend payout ratio is currently 106.67%.

Institutional Trading of PHX Minerals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in PHX Minerals by 5.0% in 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 during the last quarter. Ancora Advisors LLC raised its holdings in shares of PHX Minerals by 52.6% during the first quarter. Ancora Advisors LLC now owns 491,418 shares of the oil and gas producer’s stock worth $1,676,000 after purchasing an additional 169,470 shares during the period. Russell Investments Group Ltd. lifted its position in shares of PHX Minerals by 48.4% in 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 buying an additional 96,894 shares during the last quarter. Empowered Funds LLC grew its position 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 buying an additional 8,575 shares during the last quarter. Finally, Ritholtz Wealth Management grew its position in shares of 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 valued at $100,000 after buying an additional 8,220 shares during the last quarter. 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.