StockNews.com Begins Coverage on PHX Minerals (NYSE:PHX)

StockNews.com assumed coverage on shares of PHX Minerals (NYSE:PHX - Free Report) in a research note issued to investors on Saturday morning. The firm issued a hold rating on the oil and gas producer's stock.

PHX Minerals Trading Down 5.3 %

Shares of PHX Minerals stock traded down $0.19 on Friday, hitting $3.42. The stock had a trading volume of 57,341 shares, compared to its average volume of 61,352. The stock has a 50 day moving average of $3.47 and a 200 day moving average of $3.35. The firm has a market capitalization of $128.25 million, a P/E ratio of 22.80 and a beta of 0.54. PHX Minerals has a twelve month low of $2.95 and a twelve month high of $3.74. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.98 and a current ratio of 3.98.

PHX Minerals (NYSE:PHX - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $9.54 million during the quarter, compared to the consensus estimate of $7.40 million. PHX Minerals had a net margin of 14.38% and a return on equity of 5.35%. During the same quarter last year, the firm earned ($0.02) earnings per share. Sell-side analysts expect that PHX Minerals will post 0.1 earnings per share for the current fiscal year.

PHX Minerals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.68%. This is an increase from PHX Minerals's previous quarterly dividend of $0.03. The ex-dividend date was Friday, August 23rd. PHX Minerals's dividend payout ratio (DPR) is 106.67%.

Institutional Trading of PHX Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ancora Advisors LLC boosted its stake in shares of PHX Minerals by 52.6% in the 1st quarter. Ancora Advisors LLC now owns 491,418 shares of the oil and gas producer's stock valued at $1,676,000 after purchasing an additional 169,470 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in PHX Minerals by 48.4% in the first quarter. Russell Investments Group Ltd. now owns 296,934 shares of the oil and gas producer's stock valued at $1,013,000 after buying an additional 96,894 shares during the period. Empowered Funds LLC boosted its position in PHX Minerals by 8.2% during the first quarter. Empowered Funds LLC now owns 113,458 shares of the oil and gas producer's stock valued at $387,000 after acquiring an additional 8,575 shares during the last quarter. Ritholtz Wealth Management boosted its position in PHX Minerals by 36.5% during the second quarter. Ritholtz Wealth Management now owns 30,761 shares of the oil and gas producer's stock valued at $100,000 after acquiring an additional 8,220 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in PHX Minerals during the 2nd quarter worth about $40,000. Institutional investors and hedge funds 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.