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

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

PHX Minerals Stock Performance

PHX opened at $3.40 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a fifty day moving average price of $3.47 and a 200 day moving average price of $3.35. PHX Minerals has a 1 year low of $2.95 and a 1 year high of $3.74. The stock has a market cap of $127.43 million, a P/E ratio of 26.23 and a beta of 0.55.

PHX Minerals (NYSE:PHX) last posted 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). 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 during the quarter. During the same period in the prior year, the company posted $0.07 EPS.

PHX Minerals Dividend Announcement

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

Institutional Investors Weigh In On PHX Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. purchased a new stake in PHX Minerals in the 2nd quarter worth $40,000. James Investment Research Inc. grew its holdings in shares of 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 in the last quarter. Meixler Investment Management Ltd. purchased a new stake in shares of PHX Minerals during the second quarter worth $57,000. Ritholtz Wealth Management grew 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. Finally, Empowered Funds LLC grew its holdings in shares of PHX Minerals by 8.2% during the first quarter. Empowered Funds LLC now owns 113,458 shares of the oil and gas producer’s stock worth $387,000 after buying an additional 8,575 shares in the last quarter. Hedge funds and other 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.