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 two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on PHX Minerals in a report on Thursday. They set a “hold” rating on the stock.

PHX Minerals Stock Performance

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 stock has a fifty day moving average of $3.91 and a 200-day moving average of $3.61. The stock has a market cap of $148.80 million, a PE ratio of 30.54 and a beta of 0.54.

PHX Minerals (NYSE:PHX) last released 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 return on equity of 4.16% and a net margin of 12.33%. The company had revenue of $9.14 million for the quarter. During the same quarter in the prior year, the company posted $0.07 earnings per share.

Institutional Investors Weigh In On PHX Minerals

A number of institutional investors have recently added to or reduced their stakes in PHX. Barclays PLC purchased a new stake in PHX Minerals in the 3rd quarter valued at approximately $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PHX Minerals in the 3rd quarter valued at approximately $44,000. James Investment Research Inc. boosted its holdings in PHX Minerals by 40.9% in the 3rd 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 in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in PHX Minerals in the 4th quarter valued at approximately $106,000. Finally, Empowered Funds LLC boosted its holdings in PHX Minerals by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 128,844 shares of the oil and gas producer’s stock valued at $435,000 after purchasing an additional 6,566 shares in the last quarter. 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.