PHX Minerals (NYSE:PHX) Research Coverage Started at Northland Securities

Northland Securities began coverage on shares of PHX Minerals (NYSE:PHX) in a research note published on Monday morning, Benzinga reports. The brokerage issued an outperform rating and a $4.00 price target on the oil and gas producer’s stock.

Separately, Zacks Investment Research raised PHX Minerals from a hold rating to a buy rating and set a $3.25 price objective on the stock in a research note on Wednesday, April 7th.

PHX Minerals stock opened at $3.12 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.99 and a current ratio of 3.99. The firm has a market cap of $69.99 million, a P/E ratio of -2.26 and a beta of 1.21. The business’s fifty day moving average is $2.73 and its two-hundred day moving average is $2.58. PHX Minerals has a 52 week low of $1.36 and a 52 week high of $5.43.

PHX Minerals (NYSE:PHX) last posted its quarterly earnings data on Monday, February 8th. The oil and gas producer reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $6.19 million for the quarter, compared to analyst estimates of $7.00 million. PHX Minerals had a positive return on equity of 3.78% and a negative net margin of 78.94%. On average, equities research analysts predict that PHX Minerals will post -0.1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 4th. Stockholders of record on Thursday, May 20th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, May 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.28%. PHX Minerals’s payout ratio is currently 80.00%.

In related news, Director Christopher T. Fraser acquired 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 20th. The stock was acquired at an average price of $2.00 per share, for a total transaction of $160,000.00. Following the completion of the acquisition, the director now owns 232,457 shares of the company’s stock, valued at approximately $464,914. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Edenbrook Capital, Llc acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, May 10th. The stock was bought at an average price of $2.67 per share, with a total value of $133,500.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,830,762 shares of company stock valued at $3,804,652. 5.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in PHX Minerals by 1.1% in the first quarter. BlackRock Inc. now owns 456,449 shares of the oil and gas producer’s stock valued at $1,310,000 after purchasing an additional 4,875 shares during the last quarter. Renaissance Technologies LLC increased its holdings in PHX Minerals by 23.7% in the fourth quarter. Renaissance Technologies LLC now owns 143,000 shares of the oil and gas producer’s stock valued at $329,000 after purchasing an additional 27,400 shares during the last quarter. Geode Capital Management LLC increased its holdings in PHX Minerals by 7.8% in the first quarter. Geode Capital Management LLC now owns 130,053 shares of the oil and gas producer’s stock valued at $373,000 after purchasing an additional 9,412 shares during the last quarter. GSA Capital Partners LLP increased its holdings in PHX Minerals by 31.8% in the fourth quarter. GSA Capital Partners LLP now owns 64,277 shares of the oil and gas producer’s stock valued at $148,000 after purchasing an additional 15,507 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in PHX Minerals by 8.2% in the fourth quarter. Northern Trust Corp now owns 53,615 shares of the oil and gas producer’s stock valued at $123,000 after purchasing an additional 4,082 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

PHX Minerals Company Profile

PHX Minerals, Inc engages in the acquisition, management, and development of non-operated oil and natural gas properties, including wells located on the firm’s mineral and leasehold acreage. Its products include natural gas, crude oil and NGL. The company was founded in 1926 and is headquartered in Oklahoma City, OK.

Further Reading: What are popular green investing opportunities?

Receive News & Ratings for PHX Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PHX Minerals and related companies with MarketBeat.com's FREE daily email newsletter.