Mark T. Behrman Buys 23,000 Shares of PHX Minerals Inc. (NYSE:PHX) Stock

PHX Minerals Inc. (NYSE:PHX) Director Mark T. Behrman bought 23,000 shares of the stock in a transaction dated Monday, March 25th. The stock was bought at an average cost of $3.22 per share, with a total value of $74,060.00. Following the purchase, the director now owns 173,704 shares in the company, valued at approximately $559,326.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

PHX Minerals Stock Up 1.8 %

Shares of NYSE:PHX opened at $3.32 on Thursday. PHX Minerals Inc. has a 52-week low of $2.51 and a 52-week high of $3.89. The firm has a market capitalization of $124.30 million, a P/E ratio of 8.51 and a beta of 0.57. The stock has a 50 day moving average price of $3.09 and a 200-day moving average price of $3.31. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.05 and a current ratio of 5.05.

PHX Minerals (NYSE:PHX) last posted its quarterly earnings results on Tuesday, March 12th. The oil and gas producer reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $8.55 million for the quarter, compared to the consensus estimate of $9.40 million. PHX Minerals had a return on equity of 6.78% and a net margin of 31.31%. As a group, equities research analysts anticipate that PHX Minerals Inc. will post 0.22 EPS for the current fiscal year.

PHX Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be paid a $0.03 dividend. The ex-dividend date is Friday, March 15th. This represents a $0.12 annualized dividend and a dividend yield of 3.61%. PHX Minerals’s payout ratio is currently 30.77%.

Institutional Trading of PHX Minerals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of PHX Minerals by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 1,465,106 shares of the oil and gas producer’s stock worth $4,718,000 after buying an additional 6,535 shares during the last quarter. Modern Wealth Management LLC purchased a new stake in PHX Minerals during the 4th quarter valued at $68,000. Perritt Capital Management Inc. boosted its stake in PHX Minerals by 13.8% during the 4th quarter. Perritt Capital Management Inc. now owns 106,000 shares of the oil and gas producer’s stock valued at $341,000 after purchasing an additional 12,885 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in PHX Minerals by 3.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 311,763 shares of the oil and gas producer’s stock valued at $1,004,000 after purchasing an additional 9,408 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in PHX Minerals by 16.2% during the 4th quarter. Northern Trust Corp now owns 78,319 shares of the oil and gas producer’s stock valued at $252,000 after purchasing an additional 10,930 shares during the last quarter. Hedge funds and other institutional investors own 38.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PHX shares. Stifel Nicolaus lowered their price target on PHX Minerals from $5.70 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Northland Securities lowered their price target on PHX Minerals from $5.00 to $4.30 and set an “outperform” rating for the company in a research report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.20.

PHX Minerals Company Profile

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.