Mark T. Behrman Buys 23,000 Shares of PHX Minerals Inc. (NYSE:PHX) Stock

PHX Minerals Inc. (NYSE:PHX) Director Mark T. Behrman purchased 23,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of $3.22 per share, for a total transaction of $74,060.00. Following the completion of the transaction, the director now directly owns 173,704 shares of the company’s stock, valued at approximately $559,326.88. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

PHX Minerals Stock Performance

NYSE:PHX opened at $3.32 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.05 and a quick ratio of 5.05. The firm has a market capitalization of $124.30 million, a price-to-earnings ratio of 8.51 and a beta of 0.57. The company’s 50-day moving average is $3.09 and its two-hundred day moving average is $3.31. PHX Minerals Inc. has a 1-year low of $2.51 and a 1-year high of $3.89.

PHX Minerals (NYSE:PHX) last posted its earnings results on Tuesday, March 12th. The oil and gas producer reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $8.55 million for the quarter, compared to analyst estimates of $9.40 million. PHX Minerals had a net margin of 31.31% and a return on equity of 6.78%. Analysts forecast that PHX Minerals Inc. will post 0.22 EPS for the current year.

PHX Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 18th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Friday, March 15th. PHX Minerals’s dividend payout ratio (DPR) is 30.77%.

Institutional Investors Weigh In On PHX Minerals

A number of institutional investors and hedge funds have recently made changes to their positions in PHX. Ancora Advisors LLC purchased a new stake in shares of PHX Minerals in the 1st quarter valued at approximately $682,000. Dimensional Fund Advisors LP increased its stake in PHX Minerals by 29.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 898,409 shares of the oil and gas producer’s stock worth $2,912,000 after buying an additional 205,951 shares during the period. Millennium Management LLC increased its stake in PHX Minerals by 120.7% during the 2nd quarter. Millennium Management LLC now owns 327,050 shares of the oil and gas producer’s stock worth $994,000 after buying an additional 178,888 shares during the period. Citadel Advisors LLC increased its stake in PHX Minerals by 374.6% during the 2nd quarter. Citadel Advisors LLC now owns 220,885 shares of the oil and gas producer’s stock worth $671,000 after buying an additional 174,348 shares during the period. Finally, Punch & Associates Investment Management Inc. increased its stake in PHX Minerals by 16.7% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 1,161,045 shares of the oil and gas producer’s stock worth $4,226,000 after buying an additional 165,876 shares during the period. 38.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PHX has been the topic of a number of recent research reports. Stifel Nicolaus lowered their price target on shares of PHX Minerals from $5.70 to $5.50 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Northland Securities lowered their price target on shares of PHX Minerals from $5.00 to $4.30 and set an “outperform” rating on the stock in a research report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.20.

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.