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 research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the oil and gas producer’s stock.

PHX Minerals Stock Performance

NYSE PHX opened at $3.97 on Friday. The business’s 50-day simple moving average is $3.75 and its 200-day simple moving average is $3.50. The firm has a market capitalization of $148.80 million, a P/E ratio of 30.54 and a beta of 0.57. PHX Minerals has a 1-year low of $2.95 and a 1-year high of $4.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.19 and a quick ratio of 3.19.

PHX Minerals (NYSE:PHX) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.03 earnings per share 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 business had revenue of $9.14 million for the quarter. During the same quarter last year, the business posted $0.07 earnings per share.

Hedge Funds Weigh In On PHX Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. James Investment Research Inc. raised its stake in shares of PHX Minerals by 40.9% during the third quarter. James Investment Research Inc. now owns 15,500 shares of the oil and gas producer’s stock valued at $52,000 after purchasing an additional 4,500 shares during the period. Empowered Funds LLC increased its stake in PHX Minerals by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 128,844 shares of the oil and gas producer’s stock worth $435,000 after buying an additional 6,566 shares during the period. Barclays PLC acquired a new position in PHX Minerals in the 3rd quarter worth $37,000. Oppenheimer Asset Management Inc. purchased a new position in PHX Minerals in the 2nd quarter valued at about $40,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PHX Minerals during the third quarter valued at about $44,000. 38.19% of the stock is 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.