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

Investment analysts at StockNews.com began 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 Stock Performance

PHX opened at $3.97 on Friday. The stock’s 50 day simple moving average is $3.72 and its 200-day simple moving average is $3.47. 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 $148.80 million, a PE ratio of 30.54 and a beta of 0.58. PHX Minerals has a 1 year low of $2.95 and a 1 year high of $4.08.

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 (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $9.14 million during the quarter. PHX Minerals had a net margin of 12.33% and a return on equity of 4.16%. During the same quarter in the previous year, the business earned $0.07 earnings per share.

Hedge Funds Weigh In On PHX Minerals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC bought a new position in shares of PHX Minerals during the third quarter valued at $37,000. Oppenheimer Asset Management Inc. bought a new position in PHX Minerals during the 2nd quarter valued at about $40,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in PHX Minerals in the third quarter valued at about $44,000. James Investment Research Inc. grew its stake 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 worth $52,000 after buying an additional 4,500 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings 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 buying an additional 8,220 shares in the last quarter. Institutional investors 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.