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

StockNews.com started coverage on shares of PHX Minerals (NYSE:PHX) in a research report sent to investors on Monday morning. The brokerage issued a hold rating on the oil and gas producer’s stock.

PHX Minerals Stock Performance

Shares of NYSE PHX opened at $3.74 on Monday. The company has a market cap of $140.18 million, a P/E ratio of 28.77 and a beta of 0.55. PHX Minerals has a 52-week low of $2.95 and a 52-week high of $3.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.19 and a current ratio of 3.19. The firm’s fifty day moving average is $3.50 and its two-hundred day moving average is $3.36.

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

PHX Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.28%. PHX Minerals’s dividend payout ratio is currently 123.08%.

Hedge Funds Weigh In On PHX Minerals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC purchased a new stake in shares of PHX Minerals during the 3rd quarter valued at about $37,000. Oppenheimer Asset Management Inc. bought a new stake in PHX Minerals during the second quarter worth approximately $40,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in PHX Minerals during the third quarter worth approximately $44,000. James Investment Research Inc. raised its position in PHX Minerals by 40.9% during the third quarter. James Investment Research Inc. now owns 15,500 shares of the oil and gas producer’s stock valued at $52,000 after purchasing an additional 4,500 shares during the period. Finally, Meixler Investment Management Ltd. bought a new stake in shares of PHX Minerals in the 2nd quarter valued at approximately $57,000. 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.