PHX Minerals Inc. (NYSE:PHX – Free Report) – Stock analysts at Northland Capmk increased their Q4 2023 earnings estimates for shares of PHX Minerals in a research note issued on Tuesday, November 14th. Northland Capmk analyst D. Schafer now expects that the oil and gas producer will post earnings of $0.05 per share for the quarter, up from their prior forecast of $0.04. The consensus estimate for PHX Minerals’ current full-year earnings is $0.17 per share. Northland Capmk also issued estimates for PHX Minerals’ Q1 2024 earnings at $0.10 EPS and Q2 2024 earnings at $0.08 EPS.
A number of other brokerages also recently issued reports on PHX. Alliance Global Partners increased their price target on shares of PHX Minerals from $5.00 to $5.50 and gave the stock a “buy” rating in a report on Friday, August 25th. Stifel Nicolaus cut their price objective on PHX Minerals from $5.50 to $5.40 and set a “buy” rating for the company in a report on Monday, October 30th. Johnson Rice assumed coverage on shares of PHX Minerals in a research note on Friday, September 15th. They issued a “buy” rating and a $5.50 target price on the stock. Finally, StockNews.com assumed coverage on PHX Minerals in a report on Thursday, October 5th. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.48.
PHX Minerals Price Performance
PHX Minerals stock opened at $3.47 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.17 and a quick ratio of 3.17. The firm has a market capitalization of $128.39 million, a P/E ratio of 8.46 and a beta of 0.62. PHX Minerals has a one year low of $2.33 and a one year high of $4.19. The business has a fifty day moving average price of $3.56 and a 200-day moving average price of $3.26.
PHX Minerals Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Thursday, November 23rd will be given a $0.03 dividend. This is a boost from PHX Minerals’s previous quarterly dividend of $0.02. The ex-dividend date is Tuesday, November 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.46%. PHX Minerals’s payout ratio is presently 21.95%.
Institutional Trading of PHX Minerals
A number of institutional investors have recently modified their holdings of the company. Requisite Capital Management LLC purchased a new stake in PHX Minerals in the second quarter worth $183,000. Russell Investments Group Ltd. purchased a new stake in shares of PHX Minerals in the 1st quarter worth about $454,000. Robotti Robert boosted its stake in shares of PHX Minerals by 10.9% during the 1st quarter. Robotti Robert now owns 54,593 shares of the oil and gas producer’s stock valued at $143,000 after purchasing an additional 5,357 shares in the last quarter. Ancora Advisors LLC increased its position in shares of PHX Minerals by 1.5% during the third quarter. Ancora Advisors LLC now owns 321,948 shares of the oil and gas producer’s stock valued at $1,172,000 after buying an additional 4,728 shares during the period. Finally, Perritt Capital Management Inc. raised its stake in PHX Minerals by 10.7% in the third quarter. Perritt Capital Management Inc. now owns 93,115 shares of the oil and gas producer’s stock worth $339,000 after buying an additional 8,972 shares in the last quarter. 35.17% of the stock is currently owned by hedge funds and other 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. It sells its products to various purchasers, including pipeline and marketing companies.
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