PHX Minerals (NYSE:PHX) Now Covered by Analysts at StockNews.com

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

PHX Minerals Price Performance

Shares of PHX stock opened at $3.42 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.98 and a quick ratio of 3.98. The company has a market cap of $128.25 million, a P/E ratio of 22.80 and a beta of 0.54. The stock’s 50-day moving average is $3.47 and its 200 day moving average is $3.35. PHX Minerals has a 1-year low of $2.95 and a 1-year high of $3.74.

PHX Minerals (NYSE:PHX) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. The business had revenue of $9.54 million during the quarter, compared to the consensus estimate of $7.40 million. PHX Minerals had a return on equity of 5.35% and a net margin of 14.38%. During the same quarter last year, the company earned ($0.02) earnings per share. Research analysts predict that PHX Minerals will post 0.1 earnings per share for the current fiscal year.

PHX Minerals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 4.68%. The ex-dividend date was Friday, August 23rd. This is an increase from PHX Minerals’s previous quarterly dividend of $0.03. PHX Minerals’s dividend payout ratio (DPR) is currently 106.67%.

Institutional Investors Weigh In On PHX Minerals

Several institutional investors have recently added to or reduced their stakes in the business. Ancora Advisors LLC raised its stake in shares of PHX Minerals by 52.6% in the first quarter. Ancora Advisors LLC now owns 491,418 shares of the oil and gas producer’s stock worth $1,676,000 after purchasing an additional 169,470 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of PHX Minerals by 48.4% in the first quarter. Russell Investments Group Ltd. now owns 296,934 shares of the oil and gas producer’s stock worth $1,013,000 after purchasing an additional 96,894 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of PHX Minerals by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,631,869 shares of the oil and gas producer’s stock worth $5,320,000 after purchasing an additional 78,008 shares during the last quarter. Meixler Investment Management Ltd. purchased a new position in shares of PHX Minerals in the second quarter worth about $57,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of PHX Minerals in the second quarter worth about $40,000. Institutional investors and hedge funds 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.