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

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

PHX Minerals Trading Up 0.8 %

Shares of PHX Minerals stock opened at $4.01 on Monday. The stock has a market cap of $150.30 million, a P/E ratio of 30.85 and a beta of 0.57. The stock’s 50 day simple moving average is $3.82 and its 200-day simple moving average is $3.54. PHX Minerals has a 1-year low of $2.95 and a 1-year high of $4.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.19 and a quick ratio of 3.19.

PHX Minerals (NYSE:PHX) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $9.14 million for 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 firm posted $0.07 earnings per share.

PHX Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Thursday, November 21st. PHX Minerals’s payout ratio is presently 123.08%.

Institutional Trading of PHX Minerals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC purchased a new stake in PHX Minerals in the third quarter valued at approximately $37,000. Geode Capital Management LLC raised its position in PHX Minerals by 12.0% in the third quarter. Geode Capital Management LLC now owns 302,568 shares of the oil and gas producer’s stock valued at $1,023,000 after purchasing an additional 32,406 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PHX Minerals in the third quarter valued at approximately $44,000. Empowered Funds LLC raised its position in PHX Minerals by 5.4% in the third quarter. Empowered Funds LLC now owns 128,844 shares of the oil and gas producer’s stock valued at $435,000 after purchasing an additional 6,566 shares during the period. Finally, James Investment Research Inc. raised its position in PHX Minerals by 40.9% in 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. 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.