Mesirow Financial Investment Management Inc. Lowers Stock Position in PHX Minerals Inc. (NYSE:PHX)

Mesirow Financial Investment Management Inc. lessened its holdings in PHX Minerals Inc. (NYSE:PHX) by 23.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 57,068 shares of the oil and gas producer’s stock after selling 17,192 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in PHX Minerals were worth $195,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC purchased a new position in shares of PHX Minerals in the third quarter worth $104,000. Victory Capital Management Inc. purchased a new position in shares of PHX Minerals in the fourth quarter worth $84,000. Ritholtz Wealth Management raised its holdings in shares of PHX Minerals by 220.4% in the fourth quarter. Ritholtz Wealth Management now owns 35,438 shares of the oil and gas producer’s stock worth $114,000 after buying an additional 24,378 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of PHX Minerals in the fourth quarter worth $79,000. Hedge funds and other institutional investors own 38.19% of the company’s stock.

PHX Minerals Price Performance

Shares of NYSE:PHX remained flat at $3.25 during midday trading on Wednesday. 11,616 shares of the stock were exchanged, compared to its average volume of 51,404. The firm has a market capitalization of $121.75 million, a price-to-earnings ratio of 29.64 and a beta of 0.56. PHX Minerals Inc. has a 1 year low of $2.92 and a 1 year high of $3.89. The firm has a fifty day moving average price of $3.27 and a two-hundred day moving average price of $3.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.51 and a quick ratio of 4.51.

PHX Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Friday, May 31st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Friday, May 31st. PHX Minerals’s dividend payout ratio is currently 109.10%.

Analysts Set New Price Targets

Separately, Northland Securities decreased their price target on shares of PHX Minerals from $5.00 to $4.30 and set an “outperform” rating for the company in a report on Friday, March 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, PHX Minerals has an average rating of “Moderate Buy” and an average price target of $5.20.

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.