StockNews.com initiated coverage on shares of PHX Minerals (NYSE:PHX - Free Report) in a research report released on Sunday morning. The firm issued a hold rating on the oil and gas producer's stock.
PHX Minerals Stock Up 1.8 %
Shares of NYSE:PHX traded up $0.07 during trading on Friday, reaching $3.97. 73,952 shares of the stock traded hands, compared to its average volume of 61,643. The stock has a 50-day moving average of $3.88 and a two-hundred day moving average of $3.84. PHX Minerals has a 52-week low of $3.09 and a 52-week high of $4.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.19 and a current ratio of 3.19. The stock has a market cap of $150.55 million, a P/E ratio of 30.54 and a beta of 0.12.
PHX Minerals Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Monday, March 17th. PHX Minerals's payout ratio is 266.67%.
Institutional Investors Weigh In On PHX Minerals
A number of institutional investors have recently made changes to their positions in PHX. Dimensional Fund Advisors LP lifted its position in PHX Minerals by 5.0% during 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 purchasing an additional 86,053 shares during the period. Bridgeway Capital Management LLC lifted its position in PHX Minerals by 2.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 411,444 shares of the oil and gas producer's stock valued at $1,646,000 after purchasing an additional 9,720 shares during the period. Geode Capital Management LLC lifted its position in PHX Minerals by 12.0% during the third quarter. Geode Capital Management LLC now owns 302,568 shares of the oil and gas producer's stock valued at $1,023,000 after purchasing an additional 32,406 shares during the period. Truffle Hound Capital LLC bought a new position in PHX Minerals during the fourth quarter valued at approximately $1,160,000. Finally, Empowered Funds LLC lifted its position in PHX Minerals by 4.9% during the fourth quarter. Empowered Funds LLC now owns 135,164 shares of the oil and gas producer's stock valued at $541,000 after purchasing an additional 6,320 shares during the period. Hedge funds and other institutional investors own 38.19% of the company's stock.
About PHX Minerals
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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.
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