PHX Minerals Inc. (PHX) To Go Ex-Dividend on May 31st

PHX Minerals Inc. (NYSE:PHX) declared a quarterly dividend on Monday, May 20th, Zacks reports. Investors of record on Friday, May 31st will be given a dividend of 0.03 per share by the oil and gas producer on Tuesday, June 11th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Friday, May 31st.

PHX Minerals has increased its dividend payment by an average of 11.7% annually over the last three years and has increased its dividend every year for the last 3 years. PHX Minerals has a payout ratio of 41.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PHX Minerals to earn $0.29 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 41.4%.

PHX Minerals Stock Performance

Shares of PHX opened at $3.23 on Wednesday. PHX Minerals has a 1 year low of $2.74 and a 1 year high of $3.89. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.51 and a quick ratio of 4.51. The stock’s fifty day moving average price is $3.29 and its two-hundred day moving average price is $3.24. The firm has a market cap of $121.00 million, a PE ratio of 29.37 and a beta of 0.59.

PHX Minerals (NYSE:PHX) last announced its earnings results on Tuesday, March 12th. The oil and gas producer reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $8.55 million during the quarter, compared to analyst estimates of $9.40 million. PHX Minerals had a net margin of 11.50% and a return on equity of 3.90%. On average, equities research analysts forecast that PHX Minerals will post 0.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of 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 reduced 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.20.

Insider Buying and Selling at PHX Minerals

In other news, Director Mark T. Behrman acquired 23,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were bought at an average price of $3.22 per share, for a total transaction of $74,060.00. Following the acquisition, the director now owns 173,704 shares of the company’s stock, valued at approximately $559,326.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased a total of 27,500 shares of company stock valued at $87,920 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.

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.