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

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

PHX Minerals Stock Performance

Shares of PHX stock opened at $3.56 on Monday. The firm has a market capitalization of $133.43 million, a price-to-earnings ratio of 27.69 and a beta of 0.55. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $3.49 and its 200-day moving average price is $3.36. PHX Minerals has a 12 month low of $2.95 and a 12 month high of $3.76.

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 the consensus estimate of $0.04 by ($0.01). PHX Minerals had a return on equity of 4.16% and a net margin of 12.33%. The business had revenue of $9.14 million for the quarter. During the same quarter in the previous year, the company posted $0.07 EPS.

Hedge Funds Weigh In On PHX Minerals

A number of hedge funds have recently made changes to their positions in PHX. Russell Investments Group Ltd. increased its position in PHX Minerals by 48.4% during the 1st quarter. Russell Investments Group Ltd. now owns 296,934 shares of the oil and gas producer’s stock valued at $1,013,000 after purchasing an additional 96,894 shares during the period. Ancora Advisors LLC increased its position in shares of PHX Minerals by 52.6% during the first quarter. Ancora Advisors LLC now owns 491,418 shares of the oil and gas producer’s stock worth $1,676,000 after buying an additional 169,470 shares during the period. Meixler Investment Management Ltd. acquired a new stake in shares of PHX Minerals during the second quarter worth $57,000. Ritholtz Wealth Management raised its stake in PHX Minerals by 36.5% during the second quarter. Ritholtz Wealth Management now owns 30,761 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 8,220 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in PHX Minerals in the second quarter valued at $40,000. 38.19% of the stock is currently owned by institutional investors.

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.