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

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

PHX Minerals Price Performance

NYSE:PHX opened at $3.56 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.19 and a quick ratio of 3.19. The company has a 50 day moving average price of $3.48 and a 200-day moving average price of $3.35. PHX Minerals has a 1-year low of $2.95 and a 1-year high of $3.76. The firm has a market cap of $133.43 million, a price-to-earnings ratio of 28.54 and a beta of 0.55.

PHX Minerals (NYSE:PHX) last released its quarterly earnings results 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). PHX Minerals had a return on equity of 4.16% and a net margin of 12.33%. The business had revenue of $9.14 million during the quarter. During the same period last year, the firm earned $0.07 earnings per share.

PHX Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 4.49%. The ex-dividend date is Thursday, November 21st. PHX Minerals’s payout ratio is presently 123.08%.

Hedge Funds Weigh In On PHX Minerals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new stake in shares of PHX Minerals during the third quarter worth about $37,000. Oppenheimer Asset Management Inc. acquired a new stake in PHX Minerals in the 2nd quarter worth about $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PHX Minerals during the 3rd quarter worth approximately $44,000. James Investment Research Inc. raised its holdings in shares of PHX Minerals by 40.9% during 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 acquiring an additional 4,500 shares during the last quarter. Finally, Meixler Investment Management Ltd. purchased a new position in shares of PHX Minerals in the second quarter valued at approximately $57,000. 38.19% of the stock is owned by hedge funds and other institutional investors.

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.