PHX Minerals (NYSE:PHX) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of PHX Minerals Inc. (NYSE:PHX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.61 and traded as high as $4.00. PHX Minerals shares last traded at $3.97, with a volume of 79,782 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of PHX Minerals in a research report on Thursday. They set a “hold” rating for the company.

PHX Minerals Stock Performance

The stock’s 50-day moving average price is $3.91 and its 200-day moving average price is $3.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.19 and a current ratio of 3.19. The company has a market capitalization of $148.80 million, a price-to-earnings ratio of 30.54 and a beta of 0.54.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PHX. Dimensional Fund Advisors LP raised its position in shares of PHX Minerals by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,631,869 shares of the oil and gas producer’s stock worth $5,320,000 after purchasing an additional 78,008 shares during the last quarter. Geode Capital Management LLC raised its position in shares of PHX Minerals by 12.0% during 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 during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of PHX Minerals during the 4th quarter worth approximately $106,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PHX Minerals during the 3rd quarter worth approximately $44,000. Finally, Barclays PLC acquired a new position in shares of PHX Minerals during the 3rd quarter worth approximately $37,000. 38.19% of the stock is currently owned by institutional investors and hedge funds.

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.