PHX Minerals Inc. (NYSE:PHX) Sees Large Decline in Short Interest

PHX Minerals Inc. (NYSE:PHX) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 125,300 shares, a decrease of 18.3% from the August 15th total of 153,400 shares. Based on an average daily volume of 43,300 shares, the days-to-cover ratio is presently 2.9 days.

Hedge Funds Weigh In On PHX Minerals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ancora Advisors LLC boosted its stake in PHX Minerals by 52.6% in the first quarter. Ancora Advisors LLC now owns 491,418 shares of the oil and gas producer’s stock valued at $1,676,000 after acquiring an additional 169,470 shares during the last quarter. Victory Capital Management Inc. bought a new position in PHX Minerals in the fourth quarter valued at approximately $84,000. Russell Investments Group Ltd. boosted its stake in PHX Minerals by 48.4% in the first quarter. Russell Investments Group Ltd. now owns 296,934 shares of the oil and gas producer’s stock valued at $1,013,000 after acquiring an additional 96,894 shares during the last quarter. Empowered Funds LLC boosted its stake in PHX Minerals by 8.2% in the first quarter. Empowered Funds LLC now owns 113,458 shares of the oil and gas producer’s stock valued at $387,000 after acquiring an additional 8,575 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in PHX Minerals by 36.5% in the second quarter. Ritholtz Wealth Management now owns 30,761 shares of the oil and gas producer’s stock valued at $100,000 after acquiring an additional 8,220 shares during the last quarter. 38.19% of the stock is owned by institutional investors.

PHX Minerals Price Performance

PHX opened at $3.41 on Friday. PHX Minerals has a one year low of $2.95 and a one year high of $3.81. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.98 and a quick ratio of 3.98. The company’s 50 day simple moving average is $3.32 and its 200-day simple moving average is $3.27. The stock has a market capitalization of $127.88 million, a P/E ratio of 31.00 and a beta of 0.57.

PHX Minerals (NYSE:PHX) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. PHX Minerals had a net margin of 14.38% and a return on equity of 5.35%. The business had revenue of $9.54 million for the quarter, compared to analysts’ expectations of $7.40 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. Sell-side analysts anticipate that PHX Minerals will post 0.1 earnings per share for the current fiscal year.

PHX Minerals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.04 per share. This is a boost from PHX Minerals’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 4.69%. The ex-dividend date was Friday, August 23rd. PHX Minerals’s dividend payout ratio is 145.47%.

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.