PHX Minerals Inc. (NYSE:PHX) Sees Large Drop in Short Interest

PHX Minerals Inc. (NYSE:PHX) was the recipient of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 122,600 shares, a decrease of 21.5% from the February 13th total of 156,200 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 91,900 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Trading of PHX Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of PHX. Bank of America Corp DE lifted its stake in PHX Minerals by 14.3% in the fourth quarter. Bank of America Corp DE now owns 35,636 shares of the oil and gas producer’s stock worth $143,000 after acquiring an additional 4,465 shares during the period. Empowered Funds LLC boosted its position in shares of PHX Minerals by 4.9% in the 4th quarter. Empowered Funds LLC now owns 135,164 shares of the oil and gas producer’s stock worth $541,000 after purchasing an additional 6,320 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of PHX Minerals by 2.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 411,444 shares of the oil and gas producer’s stock worth $1,646,000 after buying an additional 9,720 shares during the last quarter. Barclays PLC bought a new position in PHX Minerals during the 3rd quarter valued at approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in PHX Minerals during the third quarter valued at $44,000. Institutional investors own 38.19% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of PHX Minerals in a report on Tuesday. They set a “hold” rating on the stock.

PHX Minerals Stock Performance

PHX traded up $0.12 during midday trading on Wednesday, reaching $4.09. The company had a trading volume of 15,523 shares, compared to its average volume of 58,674. The business has a 50-day moving average price of $3.97 and a two-hundred day moving average price of $3.75. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.19 and a current ratio of 3.19. PHX Minerals has a 12-month low of $3.01 and a 12-month high of $4.24. The stock has a market cap of $154.91 million, a PE ratio of 31.39 and a beta of 0.51.

PHX Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 17th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.16 annualized dividend and a dividend yield of 3.92%. PHX Minerals’s dividend payout ratio is currently 266.67%.

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.