PHX Minerals (NYSE:PHX) Stock Price Crosses Above 200 Day Moving Average of $3.01

PHX Minerals Inc. (NYSE:PHX)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.01 and traded as high as $3.49. PHX Minerals shares last traded at $3.31, with a volume of 129,057 shares trading hands.

Separately, Zacks Investment Research cut shares of PHX Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, October 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $3.00.

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $100.93 million, a PE ratio of -19.53 and a beta of 1.13. The stock’s 50 day simple moving average is $2.86 and its 200 day simple moving average is $3.01.

PHX Minerals (NYSE:PHX) last released its quarterly earnings results on Thursday, August 5th. The oil and gas producer reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. PHX Minerals had a negative net margin of 18.98% and a positive return on equity of 4.55%. The business had revenue of $5.94 million during the quarter, compared to analysts’ expectations of $8.51 million. As a group, analysts anticipate that PHX Minerals Inc. will post 0.19 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Thursday, August 26th were issued a $0.01 dividend. The ex-dividend date was Wednesday, August 25th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.20%. PHX Minerals’s payout ratio is 80.00%.

In other PHX Minerals news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the stock in a transaction dated Monday, August 23rd. The stock was purchased at an average cost of $2.58 per share, for a total transaction of $51,600.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders bought 386,329 shares of company stock valued at $1,042,610. Company insiders own 4.10% of the company’s stock.

A number of large investors have recently bought and sold shares of PHX. Edenbrook Capital LLC raised its holdings in PHX Minerals by 64.3% during the 2nd quarter. Edenbrook Capital LLC now owns 4,425,767 shares of the oil and gas producer’s stock valued at $16,464,000 after buying an additional 1,731,793 shares during the last quarter. Vanguard Group Inc. grew its position in PHX Minerals by 113.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,150,402 shares of the oil and gas producer’s stock valued at $4,280,000 after purchasing an additional 611,151 shares during the last quarter. Renaissance Technologies LLC grew its position in PHX Minerals by 282.7% during the 2nd quarter. Renaissance Technologies LLC now owns 401,649 shares of the oil and gas producer’s stock valued at $1,494,000 after purchasing an additional 296,694 shares during the last quarter. Geode Capital Management LLC grew its position in PHX Minerals by 60.8% during the 2nd quarter. Geode Capital Management LLC now owns 209,182 shares of the oil and gas producer’s stock valued at $778,000 after purchasing an additional 79,129 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in PHX Minerals during the 2nd quarter valued at about $262,000. Institutional investors own 40.41% of the company’s stock.

PHX Minerals Company Profile (NYSE:PHX)

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. Its products include natural gas, crude oil and NGL. The company was founded in 1926 and is headquartered in Oklahoma City, OK.

See Also: Hold Rating

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