PHX Minerals (NYSE:PHX) Stock Crosses Above 200-Day Moving Average of $3.52

Posted by Defense World Staff on Jan 19th, 2023

PHX Minerals Inc. (NYSE:PHX – Get Rating)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.52 and traded as high as $4.02. PHX Minerals shares last traded at $3.81, with a volume of 159,679 shares trading hands.

Analysts Set New Price Targets

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

PHX Minerals Trading Down 6.4 %

The business has a fifty day moving average of $3.76 and a 200-day moving average of $3.52. The stock has a market capitalization of $139.18 million, a price-to-earnings ratio of 6.46 and a beta of 0.63. 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:PHX – Get Rating) last issued its quarterly earnings results on Tuesday, December 13th. The oil and gas producer reported $0.28 earnings per share 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 analysts’ expectations of $18.70 million. On average, equities analysts anticipate that PHX Minerals Inc. will post 0.77 earnings per share for the current fiscal year.

PHX Minerals Increases Dividend

The business also recently announced 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 is a positive change from PHX Minerals’s previous quarterly dividend of $0.02. This represents a $0.09 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, February 16th. PHX Minerals’s payout ratio is 13.56%.

Institutional Investors Weigh In On PHX Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHX. Founders Capital Management lifted its holdings in PHX Minerals by 60.0% in the 3rd quarter. Founders Capital Management now owns 8,000 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 3,000 shares during the last quarter. Cowa LLC acquired a new stake in PHX Minerals in the 3rd quarter worth approximately $29,000. Cambridge Investment Research Advisors Inc. acquired a new stake in PHX Minerals in the 1st quarter worth approximately $33,000. Mackenzie Financial Corp acquired a new stake in PHX Minerals in the 2nd quarter worth approximately $37,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in PHX Minerals in the 1st quarter worth approximately $46,000. 35.07% of the stock is currently owned by institutional investors and hedge funds.

PHX Minerals Company Profile

(Get Rating)

PHX Minerals, Inc engages in the acquisition, management, and development of non-operated oil and natural gas properties, including wells located on the firm’s mineral and leasehold acreage. The company was founded on December 3, 1926 and is headquartered in Fort Worth, TX.