PHX Minerals (NYSE:PHX) Stock Price Passes Above 200 Day Moving Average of $3.05

PHX Minerals Inc. (NYSE:PHXGet Rating)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.05 and traded as high as $3.42. PHX Minerals shares last traded at $3.28, with a volume of 207,219 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. TheStreet downgraded PHX Minerals from a “c-” rating to a “d+” rating in a report on Tuesday, July 19th. StockNews.com downgraded PHX Minerals from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th.

PHX Minerals Trading Up 0.6 %

The company has a 50 day moving average of $3.37 and a two-hundred day moving average of $3.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $115.54 million, a PE ratio of -29.82 and a beta of 0.67.

PHX Minerals (NYSE:PHXGet Rating) last announced its earnings results on Monday, May 9th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.08. PHX Minerals had a positive return on equity of 6.68% and a negative net margin of 8.61%. The firm had revenue of $14.78 million for the quarter, compared to the consensus estimate of $11.95 million. Sell-side analysts predict that PHX Minerals Inc. will post 0.48 EPS for the current year.

PHX Minerals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Thursday, May 19th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, May 18th. This represents a $0.08 dividend on an annualized basis and a yield of 2.44%. This is a boost from PHX Minerals’s previous quarterly dividend of $0.02. PHX Minerals’s payout ratio is currently -72.73%.

Insiders Place Their Bets

In other news, CEO Chad L. Stephens purchased 30,000 shares of the stock in a transaction on Wednesday, June 29th. The stock was bought at an average price of $3.07 per share, with a total value of $92,100.00. Following the transaction, the chief executive officer now owns 806,618 shares in the company, valued at approximately $2,476,317.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PHX Minerals news, insider Srp Capital Advisors, Llc purchased 81,265 shares of PHX Minerals stock in a transaction that occurred on Monday, June 6th. The stock was bought at an average price of $4.23 per share, with a total value of $343,750.95. Following the acquisition, the insider now owns 3,388,292 shares of the company’s stock, valued at approximately $14,332,475.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chad L. Stephens purchased 30,000 shares of PHX Minerals stock in a transaction that occurred on Wednesday, June 29th. The stock was acquired at an average cost of $3.07 per share, with a total value of $92,100.00. Following the acquisition, the chief executive officer now directly owns 806,618 shares in the company, valued at approximately $2,476,317.26. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 146,319 shares of company stock valued at $548,570. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On PHX Minerals

Large investors have recently bought and sold shares of the business. Edenbrook Capital LLC raised its holdings in PHX Minerals by 3.3% in the 4th quarter. Edenbrook Capital LLC now owns 5,094,571 shares of the oil and gas producer’s stock worth $11,055,000 after purchasing an additional 160,625 shares during the period. Mraz Amerine & Associates Inc. purchased a new stake in PHX Minerals during the 1st quarter worth approximately $48,000. SG3 Management LLC increased its stake in PHX Minerals by 130.3% during the 4th quarter. SG3 Management LLC now owns 75,110 shares of the oil and gas producer’s stock worth $163,000 after buying an additional 323,010 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in PHX Minerals by 40.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 95,243 shares of the oil and gas producer’s stock worth $207,000 after buying an additional 27,335 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in PHX Minerals by 10.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 513,071 shares of the oil and gas producer’s stock worth $1,570,000 after buying an additional 48,270 shares in the last quarter. Institutional investors and hedge funds own 34.37% of the company’s stock.

About PHX Minerals

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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. As of September 30, 2021, the company owned perpetual ownership of 251,600 net mineral acres; leased 18,298 net acres; and held working interests and royalty interests in 6,457 producing oil and natural gas wells, as well as had 277 wells in the process of being drilled or completed.

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