Johnson Rice Downgrades PHX Minerals (NYSE:PHX) to Hold

PHX Minerals (NYSE:PHX) was downgraded by analysts at Johnson Rice from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, MarketBeat.com reports.

Separately, Wall Street Zen initiated coverage on PHX Minerals in a research report on Wednesday. They set a “hold” rating on the stock.

PHX Minerals Price Performance

PHX opened at $4.31 on Wednesday. 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 market capitalization of $163.44 million, a price-to-earnings ratio of 33.16 and a beta of -0.01. The firm’s fifty day moving average price is $3.93 and its two-hundred day moving average price is $3.90. PHX Minerals has a 1 year low of $3.09 and a 1 year high of $4.34.

PHX Minerals (NYSE:PHX) last issued its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. PHX Minerals had a net margin of 12.33% and a return on equity of 4.16%. The company had revenue of $7.60 million for the quarter, compared to the consensus estimate of $10.26 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PHX. Truffle Hound Capital LLC bought a new stake in PHX Minerals in the fourth quarter valued at $1,160,000. Dimensional Fund Advisors LP boosted its holdings in PHX Minerals by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,814,060 shares of the oil and gas producer’s stock valued at $7,256,000 after acquiring an additional 86,053 shares in the last quarter. Jane Street Group LLC boosted its holdings in PHX Minerals by 165.3% in the first quarter. Jane Street Group LLC now owns 119,829 shares of the oil and gas producer’s stock valued at $473,000 after acquiring an additional 74,667 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in PHX Minerals in the fourth quarter valued at $211,000. Finally, Goldman Sachs Group Inc. boosted its holdings in PHX Minerals by 226.2% in the first quarter. Goldman Sachs Group Inc. now owns 54,134 shares of the oil and gas producer’s stock valued at $214,000 after acquiring an additional 37,537 shares in the last quarter. Institutional investors own 38.19% of the company’s stock.

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.