PHX Minerals (NYSE:PHX) Share Price Crosses Above 200-Day Moving Average – What’s Next?

PHX Minerals Inc. (NYSE:PHX)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.34 and traded as high as $3.68. PHX Minerals shares last traded at $3.68, with a volume of 42,346 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on PHX Minerals in a report on Friday. They issued a “hold” rating on the stock.

PHX Minerals Stock Up 0.8 %

The firm’s 50-day moving average price is $3.44 and its 200-day moving average price is $3.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.98 and a quick ratio of 3.98. The company has a market cap of $138 million, a price-to-earnings ratio of 24.53 and a beta of 0.56.

PHX Minerals (NYSE:PHX) last announced 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 return on equity of 5.35% and a net margin of 14.38%. During the same period in the prior year, the firm earned ($0.02) EPS. Sell-side analysts forecast that PHX Minerals Inc. will post 0.1 earnings per share for the current fiscal year.

PHX Minerals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.04 per share. The ex-dividend date was Friday, August 23rd. This is a positive change from PHX Minerals’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 4.35%. PHX Minerals’s payout ratio is 106.67%.

Institutional Trading of PHX Minerals

Several large investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new position in shares of PHX Minerals during the second quarter worth $40,000. Meixler Investment Management Ltd. acquired a new position in PHX Minerals in the 2nd quarter worth $57,000. Ritholtz Wealth Management boosted its position in PHX Minerals by 36.5% in the 2nd quarter. Ritholtz Wealth Management now owns 30,761 shares of the oil and gas producer’s stock valued at $100,000 after buying an additional 8,220 shares during the last quarter. Empowered Funds LLC grew its stake in shares of 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 in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of PHX Minerals by 48.4% during 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 in the last quarter. 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.