PHX Minerals Inc. (NYSE:PHX) to Issue Quarterly Dividend of $0.03

PHX Minerals Inc. (NYSE:PHX) announced a quarterly dividend on Wednesday, November 8th, Wall Street Journal reports. Investors of record on Thursday, November 23rd will be given a dividend of 0.03 per share by the oil and gas producer on Thursday, December 7th. This represents a $0.12 annualized dividend and a yield of 3.56%. The ex-dividend date is Tuesday, November 21st. This is an increase from PHX Minerals’s previous quarterly dividend of $0.02.

PHX Minerals has decreased its dividend by an average of 22.3% per year over the last three years and has raised its dividend every year for the last 2 years. PHX Minerals has a dividend payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Analysts expect PHX Minerals to earn $0.17 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 70.6%.

PHX Minerals Stock Performance

PHX opened at $3.37 on Monday. The firm has a market cap of $124.69 million, a P/E ratio of 8.22 and a beta of 0.62. PHX Minerals has a 1-year low of $2.33 and a 1-year high of $4.19. The company has a 50 day simple moving average of $3.55 and a two-hundred day simple moving average of $3.27. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.17 and a quick ratio of 3.17.

Institutional Trading of PHX Minerals

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of PHX Minerals by 540.6% in the first quarter. JPMorgan Chase & Co. now owns 31,528 shares of the oil and gas producer’s stock valued at $96,000 after purchasing an additional 26,606 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of PHX Minerals in the 2nd quarter worth $91,000. Jane Street Group LLC increased its holdings in shares of PHX Minerals by 25.8% in the 4th quarter. Jane Street Group LLC now owns 21,479 shares of the oil and gas producer’s stock worth $84,000 after buying an additional 4,402 shares during the last quarter. Bank of America Corp DE raised its position in shares of PHX Minerals by 97,309.4% during the 1st quarter. Bank of America Corp DE now owns 31,171 shares of the oil and gas producer’s stock valued at $82,000 after buying an additional 31,139 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of PHX Minerals during the 2nd quarter valued at about $58,000. Institutional investors own 35.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com assumed coverage on PHX Minerals in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Alliance Global Partners increased their target price on PHX Minerals from $5.00 to $5.50 and gave the stock a “buy” rating in a research report on Friday, August 25th. Stifel Nicolaus lowered their price target on PHX Minerals from $5.50 to $5.40 and set a “buy” rating on the stock in a report on Monday, October 30th. Finally, Johnson Rice began coverage on shares of PHX Minerals in a report on Friday, September 15th. They set a “buy” rating and a $5.50 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, PHX Minerals has a consensus rating of “Moderate Buy” and a consensus price target of $5.48.

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. It sells its products to various purchasers, including pipeline and marketing companies.