Insider Buying: PHX Minerals Inc. (NYSE:PHX) Major Shareholder Buys 15,000 Shares of Stock

PHX Minerals Inc. (NYSE:PHXGet Rating) major shareholder Edenbrook Capital, Llc purchased 15,000 shares of the firm’s stock in a transaction on Friday, June 17th. The shares were purchased at an average price of $3.41 per share, with a total value of $51,150.00. Following the completion of the acquisition, the insider now directly owns 5,109,571 shares of the company’s stock, valued at $17,423,637.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of NYSE PHX traded up $0.26 during midday trading on Tuesday, hitting $3.69. The stock had a trading volume of 426,537 shares, compared to its average volume of 346,223. The company’s 50-day simple moving average is $3.63 and its 200 day simple moving average is $2.91. The firm has a market cap of $129.98 million, a P/E ratio of -33.00 and a beta of 0.62. PHX Minerals Inc. has a fifty-two week low of $2.07 and a fifty-two week high of $4.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.71 and a quick ratio of 0.71.

PHX Minerals (NYSE:PHXGet Rating) last posted its earnings results on Monday, May 9th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. PHX Minerals had a positive return on equity of 6.68% and a negative net margin of 8.61%. The firm had revenue of $14.78 million during the quarter, compared to analysts’ expectations of $11.95 million. Equities analysts expect that PHX Minerals Inc. will post 0.54 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 3rd. Investors of record on Thursday, May 19th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, May 18th. This is a positive change from PHX Minerals’s previous quarterly dividend of $0.02. PHX Minerals’s dividend payout ratio is presently -72.73%.

PHX has been the subject of several research reports. StockNews.com cut shares of PHX Minerals from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th. TheStreet upgraded shares of PHX Minerals from a “d+” rating to a “c-” rating in a research note on Thursday, April 14th.

Large investors have recently added to or reduced their stakes in the business. UBS Group AG grew its position in PHX Minerals by 150.9% during the third quarter. UBS Group AG now owns 8,396 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 5,049 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in PHX Minerals during the 1st quarter worth $33,000. Atria Wealth Solutions Inc. acquired a new stake in PHX Minerals during the 1st quarter worth about $46,000. Mraz Amerine & Associates Inc. acquired a new stake in PHX Minerals during the 1st quarter worth about $48,000. Finally, Stifel Financial Corp grew its stake in shares of PHX Minerals by 137.3% in the 4th quarter. Stifel Financial Corp now owns 28,479 shares of the oil and gas producer’s stock valued at $62,000 after buying an additional 16,479 shares during the period. Hedge funds and other institutional investors own 34.37% of the company’s stock.

About PHX Minerals (Get Rating)

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. As of September 30, 2021, the company owned perpetual ownership of 251,600 net mineral acres; leased 18,298 net acres; and held working interests and royalty interests in 6,457 producing oil and natural gas wells, as well as had 277 wells in the process of being drilled or completed.

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