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

PHX Minerals Inc. (NYSE:PHX) crossed 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 research firms have commented on PHX. Stifel Nicolaus dropped their price objective on shares of PHX Minerals from $5.70 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Northland Securities dropped their price objective on shares of PHX Minerals from $5.00 to $4.30 and set an “outperform” rating on the stock in a report on Friday, March 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.20.

PHX Minerals Price Performance

The business’s 50 day moving average is $3.17 and its two-hundred day moving average is $3.29. The firm has a market capitalization of $127.36 million, a PE ratio of 8.72 and a beta of 0.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.05 and a quick ratio of 5.05.

PHX Minerals (NYSE:PHX) last announced its earnings results on Tuesday, March 12th. The oil and gas producer reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates 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%. As a group, research analysts anticipate that PHX Minerals Inc. will post 0.16 EPS for the current year.

PHX Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a dividend of $0.03 per share. 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 presently 30.77%.

Insiders Place Their Bets

In other PHX Minerals news, Director Mark T. Behrman purchased 23,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of $3.22 per share, with a total value of $74,060.00. Following the completion of the purchase, the director now owns 173,704 shares of the company’s stock, valued at approximately $559,326.88. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have acquired 27,500 shares of company stock valued at $87,920. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PHX. Squarepoint Ops LLC purchased a new position in shares of PHX Minerals in the first quarter worth $27,000. Barclays PLC bought a new stake in PHX Minerals in the third quarter valued at $30,000. UBS Group AG boosted its holdings in PHX Minerals by 129.3% in the first quarter. UBS Group AG now owns 11,327 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 6,387 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in PHX Minerals in the first quarter valued at $33,000. Finally, Advisor Group Holdings Inc. boosted its holdings in PHX Minerals by 900.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 10,000 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 9,000 shares in the last quarter. 38.19% of the stock is owned by hedge funds and other institutional investors.

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.