PHX Minerals (NYSE:PHX) Stock Crosses Above 200 Day Moving Average of $3.49

PHX Minerals Inc. (NYSE:PHXGet Rating) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.49 and traded as high as $3.92. PHX Minerals shares last traded at $3.92, with a volume of 101,982 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PHX. Northland Securities reissued an “outperform” rating and set a $6.00 price target on shares of PHX Minerals in a research report on Monday, October 3rd. TheStreet upgraded PHX Minerals from a “c” rating to a “b-” rating in a research note on Wednesday, December 14th. Finally, StockNews.com began coverage on PHX Minerals in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

PHX Minerals Stock Performance

The stock has a market capitalization of $143.19 million, a price-to-earnings ratio of 6.64 and a beta of 0.63. The firm has a fifty day moving average of $3.77 and a 200 day moving average of $3.49. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.59 and a quick ratio of 1.59.

PHX Minerals (NYSE:PHXGet Rating) last issued its quarterly earnings results on Tuesday, December 13th. The oil and gas producer reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.09. PHX Minerals had a return on equity of 27.29% and a net margin of 38.15%. The firm had revenue of $17.55 million for the quarter, compared to analyst estimates of $18.70 million. On average, sell-side analysts anticipate that PHX Minerals Inc. will post 0.77 earnings per share for the current fiscal year.

PHX Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Investors of record on Friday, February 17th will be issued a $0.023 dividend. This represents a $0.09 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Thursday, February 16th. This is an increase from PHX Minerals’s previous quarterly dividend of $0.02. PHX Minerals’s payout ratio is currently 13.56%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Edenbrook Capital LLC raised its stake in PHX Minerals by 2.5% during the 3rd quarter. Edenbrook Capital LLC now owns 5,249,095 shares of the oil and gas producer’s stock valued at $17,008,000 after acquiring an additional 127,024 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of PHX Minerals by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,219,070 shares of the oil and gas producer’s stock worth $3,950,000 after acquiring an additional 11,400 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of PHX Minerals by 29.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 898,409 shares of the oil and gas producer’s stock worth $2,912,000 after acquiring an additional 205,951 shares during the period. Renaissance Technologies LLC grew its holdings in PHX Minerals by 2.2% during the 2nd quarter. Renaissance Technologies LLC now owns 475,933 shares of the oil and gas producer’s stock valued at $1,447,000 after buying an additional 10,080 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of PHX Minerals by 1.5% during the first quarter. BlackRock Inc. now owns 416,606 shares of the oil and gas producer’s stock worth $1,275,000 after purchasing an additional 6,046 shares during the last quarter. 35.07% of the stock is owned by institutional investors and hedge funds.

PHX Minerals Company Profile

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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, 2022, the company owned perpetual ownership of 244,739 net mineral acres; leased 16,260 net acres; and held working interests and royalty interests in 6,326 producing oil and natural gas wells, as well as had 172 wells in the process of being drilled or completed.

Further Reading

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