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

StockNews.com started coverage on shares of PHX Minerals (NYSE:PHX) in a research note released on Sunday morning. The brokerage issued a hold rating on the oil and gas producer’s stock.

PHX Minerals Trading Up 1.8 %

Shares of PHX stock opened at $3.40 on Friday. The company’s 50-day moving average price is $3.47 and its 200-day moving average price is $3.35. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.22. The stock has a market cap of $127.43 million, a price-to-earnings ratio of 26.23 and a beta of 0.55. PHX Minerals has a twelve month low of $2.95 and a twelve month high of $3.74.

PHX Minerals (NYSE:PHX) last announced its quarterly earnings results 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). PHX Minerals had a net margin of 12.33% and a return on equity of 4.16%. The firm had revenue of $9.14 million for the quarter. During the same quarter last year, the firm posted $0.07 earnings per share.

PHX Minerals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.16 dividend on an annualized basis and a yield of 4.71%. PHX Minerals’s payout ratio is currently 123.09%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PHX. Empowered Funds LLC lifted 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 valued at $387,000 after buying an additional 8,575 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of PHX Minerals by 48.4% during the first 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 in the last quarter. Ancora Advisors LLC lifted its position 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 in the last quarter. Meixler Investment Management Ltd. acquired a new stake in shares of PHX Minerals during the second quarter worth about $57,000. Finally, Ritholtz Wealth Management lifted its position in shares of PHX Minerals by 36.5% during the second quarter. Ritholtz Wealth Management now owns 30,761 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 8,220 shares in the last quarter. Institutional investors and hedge funds 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.