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

Research analysts at StockNews.com initiated coverage on shares of PHX Minerals (NYSE:PHX) in a report issued on Monday. The firm set a “hold” rating on the oil and gas producer’s stock.

PHX Minerals Stock Performance

Shares of PHX stock opened at $3.99 on Monday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average price of $3.81 and a 200-day moving average price of $3.54. PHX Minerals has a 52 week low of $2.95 and a 52 week high of $4.08. The firm has a market capitalization of $149.55 million, a PE ratio of 30.69 and a beta of 0.57.

PHX Minerals (NYSE:PHX) last posted its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $9.14 million during the quarter. PHX Minerals had a return on equity of 4.16% and a net margin of 12.33%. During the same period in the previous year, the business posted $0.07 earnings per share.

Institutional Investors Weigh In On PHX Minerals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in PHX Minerals by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,631,869 shares of the oil and gas producer’s stock valued at $5,320,000 after buying an additional 78,008 shares during the period. Geode Capital Management LLC increased its stake in shares of PHX Minerals by 12.0% in the 3rd quarter. Geode Capital Management LLC now owns 302,568 shares of the oil and gas producer’s stock worth $1,023,000 after purchasing an additional 32,406 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in PHX Minerals in the 3rd quarter worth $44,000. Oppenheimer Asset Management Inc. purchased a new position in PHX Minerals during the second quarter valued at $40,000. Finally, Barclays PLC bought a new stake in PHX Minerals during the third quarter valued at about $37,000. Hedge funds and other 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.