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

StockNews.com initiated coverage on shares of PHX Minerals (NYSE:PHX) in a research report report published on Tuesday. The firm issued a hold rating on the oil and gas producer’s stock.

PHX Minerals Stock Up 2.7 %

PHX Minerals stock opened at $3.82 on Tuesday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.22. The firm has a market cap of $143.17 million, a P/E ratio of 29.39 and a beta of 0.55. The business has a fifty day moving average of $3.55 and a two-hundred day moving average of $3.38. PHX Minerals has a twelve month low of $2.95 and a twelve month high of $3.88.

PHX Minerals (NYSE:PHX) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company 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 prior year, the firm posted $0.07 earnings per share.

PHX Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a $0.04 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.16 annualized dividend and a yield of 4.19%. PHX Minerals’s dividend payout ratio (DPR) is 123.09%.

Hedge Funds Weigh In On PHX Minerals

A number of large investors have recently made changes to their positions in the business. Barclays PLC purchased a new position in PHX Minerals during the 3rd quarter worth $37,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of PHX Minerals during the second quarter worth about $40,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PHX Minerals during the third quarter valued at about $44,000. James Investment Research Inc. raised its position in shares of PHX Minerals by 40.9% in the 3rd 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 last quarter. Finally, Meixler Investment Management Ltd. acquired a new stake in PHX Minerals in the 2nd quarter worth approximately $57,000. 38.19% of the stock is owned by institutional investors and hedge funds.

About PHX Minerals

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.