PHX Minerals (NYSE:PHX) Share Price Crosses Above Two Hundred Day Moving Average of $3.26

PHX Minerals Inc. (NYSE:PHX)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.26 and traded as high as $3.45. PHX Minerals shares last traded at $3.42, with a volume of 34,917 shares.

Wall Street Analysts Forecast Growth

PHX has been the topic of a number of recent research reports. Northland Securities dropped their target price on PHX Minerals from $5.00 to $4.30 and set an “outperform” rating on the stock in a report on Friday, March 15th. Stifel Nicolaus reduced their target price on shares of PHX Minerals from $5.70 to $5.50 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.20.

PHX Minerals Stock Performance

The firm has a market cap of $128.11 million, a PE ratio of 8.77 and a beta of 0.59. The company has a quick ratio of 5.05, a current ratio of 5.05 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $3.26 and a two-hundred day simple moving average of $3.26.

PHX Minerals (NYSE:PHX) last announced its quarterly earnings data on Tuesday, March 12th. The oil and gas producer reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. PHX Minerals had a net margin of 31.31% and a return on equity of 6.78%. The business had revenue of $8.55 million for the quarter, compared to analyst estimates of $9.40 million. As a group, equities research analysts forecast that PHX Minerals Inc. will post 0.14 earnings per share for the current year.

PHX Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $0.12 annualized dividend and a dividend yield of 3.51%. PHX Minerals’s payout ratio is 30.77%.

Insider Activity

In related news, Director Mark T. Behrman bought 23,000 shares of PHX Minerals stock in a transaction on Monday, March 25th. The stock was acquired at an average price of $3.22 per share, with a total value of $74,060.00. Following the acquisition, the director now directly owns 173,704 shares of the company’s stock, valued at $559,326.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 27,500 shares of company stock valued at $87,920 over the last quarter. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On PHX Minerals

A number of institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake 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 acquiring an additional 96,894 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in shares of PHX Minerals in the 3rd quarter worth approximately $270,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of PHX Minerals in the 3rd quarter valued at $104,000. Victory Capital Management Inc. bought a new position in shares of PHX Minerals during the 4th quarter valued at $84,000. Finally, Cerity Partners LLC purchased a new position in PHX Minerals in the 4th quarter worth $79,000. 38.19% of the stock is currently owned by 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.