Q2 2024 Earnings Forecast for PHX Minerals Inc. (NYSE:PHX) Issued By Northland Capmk

PHX Minerals Inc. (NYSE:PHX - Free Report) - Equities research analysts at Northland Capmk dropped their Q2 2024 earnings per share estimates for PHX Minerals in a research note issued on Tuesday, May 14th. Northland Capmk analyst D. Schafer now forecasts that the oil and gas producer will post earnings per share of $0.02 for the quarter, down from their previous forecast of $0.03. The consensus estimate for PHX Minerals' current full-year earnings is $0.14 per share. Northland Capmk also issued estimates for PHX Minerals' FY2024 earnings at $0.07 EPS and FY2025 earnings at $0.28 EPS.

PHX Minerals (NYSE:PHX - Get Free Report) last posted its earnings results on Tuesday, March 12th. The oil and gas producer reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $8.55 million during the quarter, compared to analysts' expectations of $9.40 million. PHX Minerals had a return on equity of 3.90% and a net margin of 11.50%.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus cut 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 note on Tuesday, January 23rd. Northland Securities dropped their price objective on PHX Minerals from $5.00 to $4.30 and set an "outperform" rating on the stock in a report on Friday, March 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, PHX Minerals currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.20.

PHX Minerals Trading Up 0.6 %

NYSE PHX traded up $0.02 on Wednesday, reaching $3.20. The stock had a trading volume of 106,093 shares, compared to its average volume of 55,906. The firm has a market capitalization of $119.87 million, a price-to-earnings ratio of 29.14 and a beta of 0.59. The company has a quick ratio of 4.51, a current ratio of 4.51 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $3.27 and a two-hundred day moving average price of $3.25. PHX Minerals has a 12-month low of $2.74 and a 12-month high of $3.89.

Institutional Trading of PHX Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ancora Advisors LLC lifted its position in shares of PHX Minerals by 1.5% in the third quarter. Ancora Advisors LLC now owns 321,948 shares of the oil and gas producer's stock worth $1,172,000 after buying an additional 4,728 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of PHX Minerals by 48.4% in the first quarter. Russell Investments Group Ltd. now owns 296,934 shares of the oil and gas producer's stock worth $1,013,000 after purchasing an additional 96,894 shares during the period. Bank of New York Mellon Corp raised its stake in PHX Minerals by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 281,146 shares of the oil and gas producer's stock valued at $1,023,000 after purchasing an additional 4,026 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of PHX Minerals by 8.2% in the first quarter. Empowered Funds LLC now owns 113,458 shares of the oil and gas producer's stock valued at $387,000 after buying an additional 8,575 shares during the period. Finally, Perritt Capital Management Inc. grew its position in PHX Minerals by 10.7% during the third quarter. Perritt Capital Management Inc. now owns 93,115 shares of the oil and gas producer's stock worth $339,000 after buying an additional 8,972 shares in the last quarter. 38.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark T. Behrman purchased 23,000 shares of the company's stock in a transaction dated Monday, March 25th. The shares were acquired at an average cost of $3.22 per share, for a total transaction of $74,060.00. Following the transaction, the director now owns 173,704 shares of the company's stock, valued at $559,326.88. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders bought 27,500 shares of company stock worth $87,920. Corporate insiders own 6.40% of the company's stock.

PHX Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.75%. PHX Minerals's dividend payout ratio (DPR) is presently 109.10%.

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.