StockNews.com Initiates Coverage on PHX Minerals (NYSE:PHX)

StockNews.com assumed coverage on shares of PHX Minerals (NYSE:PHX) in a research note issued to investors on Tuesday morning. The brokerage issued a hold rating on the oil and gas producer’s stock.

PHX Minerals Stock Down 0.5 %

PHX Minerals stock opened at $3.97 on Tuesday. The firm has a market cap of $150.55 million, a price-to-earnings ratio of 30.54 and a beta of 0.51. The stock has a fifty day simple moving average of $3.97 and a two-hundred day simple moving average of $3.75. PHX Minerals has a 12 month low of $3.01 and a 12 month high of $4.24. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.22.

PHX Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Monday, March 17th. PHX Minerals’s payout ratio is currently 266.67%.

Institutional Trading of PHX Minerals

Several large investors have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of PHX Minerals by 14.3% in the fourth quarter. Bank of America Corp DE now owns 35,636 shares of the oil and gas producer’s stock worth $143,000 after acquiring an additional 4,465 shares during the period. Empowered Funds LLC lifted its position in PHX Minerals by 4.9% during the fourth quarter. Empowered Funds LLC now owns 135,164 shares of the oil and gas producer’s stock valued at $541,000 after purchasing an additional 6,320 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in PHX Minerals by 2.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 411,444 shares of the oil and gas producer’s stock valued at $1,646,000 after purchasing an additional 9,720 shares in the last quarter. Barclays PLC purchased a new position in PHX Minerals during the third quarter valued at $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in PHX Minerals during the third quarter valued at $44,000. Institutional investors 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.