PHX Minerals (NYSE:PHX) Shares Pass Above 200 Day Moving Average of $3.29

PHX Minerals Inc. (NYSE:PHX)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.29 and traded as high as $3.42. PHX Minerals shares last traded at $3.40, with a volume of 18,575 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Northland Securities reduced 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. Stifel Nicolaus reduced their price objective on shares of PHX Minerals from $5.70 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, PHX Minerals currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.20.

PHX Minerals Price Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.05 and a current ratio of 5.05. The firm has a market cap of $127.36 million, a price-to-earnings ratio of 8.72 and a beta of 0.59. The stock’s 50 day simple moving average is $3.17 and its 200-day simple moving average is $3.29.

PHX Minerals (NYSE:PHX) last released its quarterly earnings data on Tuesday, March 12th. The oil and gas producer reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $8.55 million for the quarter, compared to the consensus estimate of $9.40 million. PHX Minerals had a net margin of 31.31% and a return on equity of 6.78%. Equities research analysts anticipate that PHX Minerals Inc. will post 0.16 EPS for the current fiscal year.

PHX Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Friday, March 15th. PHX Minerals’s dividend payout ratio (DPR) is currently 30.77%.

Insider Buying and Selling

In related news, Director Mark T. Behrman acquired 23,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of $3.22 per share, with a total value of $74,060.00. Following the completion of the acquisition, the director now directly owns 173,704 shares in the company, valued at approximately $559,326.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders have bought 27,500 shares of company stock valued at $87,920. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On PHX Minerals

A number of hedge funds have recently modified their holdings of PHX. Ancora Advisors LLC acquired a new stake in shares of PHX Minerals in the first quarter valued at about $682,000. Dimensional Fund Advisors LP increased its position in PHX Minerals by 29.7% during the third quarter. Dimensional Fund Advisors LP now owns 898,409 shares of the oil and gas producer’s stock worth $2,912,000 after purchasing an additional 205,951 shares during the last quarter. Millennium Management LLC increased its position in PHX Minerals by 120.7% during the second quarter. Millennium Management LLC now owns 327,050 shares of the oil and gas producer’s stock worth $994,000 after purchasing an additional 178,888 shares during the last quarter. Citadel Advisors LLC increased its position in PHX Minerals by 374.6% during the second quarter. Citadel Advisors LLC now owns 220,885 shares of the oil and gas producer’s stock worth $671,000 after purchasing an additional 174,348 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. increased its position in PHX Minerals by 16.7% during the third quarter. Punch & Associates Investment Management Inc. now owns 1,161,045 shares of the oil and gas producer’s stock worth $4,226,000 after purchasing an additional 165,876 shares during the last quarter. 38.19% of the stock is currently owned by institutional investors and hedge funds.

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.