PHX Minerals Inc. (NYSE:PHX) to Issue $0.03 Quarterly Dividend

PHX Minerals Inc. (NYSE:PHX - Get Free Report) announced a quarterly dividend on Monday, May 20th, Zacks reports. Investors of record on Friday, May 31st will be paid a dividend of 0.03 per share by the oil and gas producer on Tuesday, June 11th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, May 31st.

PHX Minerals has raised its dividend by an average of 11.7% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. PHX Minerals has a dividend payout ratio of 41.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PHX Minerals to earn $0.29 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 41.4%.

PHX Minerals Trading Down 0.6 %

Shares of PHX stock traded down $0.02 on Tuesday, reaching $3.23. 39,520 shares of the company's stock were exchanged, compared to its average volume of 55,190. PHX Minerals has a 52 week low of $2.74 and a 52 week high of $3.89. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $121.00 million, a PE ratio of 29.37 and a beta of 0.59. The company's fifty day simple moving average is $3.29 and its 200 day simple moving average is $3.24.

PHX Minerals (NYSE:PHX - Get Free Report) last released its quarterly earnings data on Tuesday, March 12th. The oil and gas producer reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $8.55 million for the quarter, compared to the consensus estimate of $9.40 million. PHX Minerals had a return on equity of 3.90% and a net margin of 11.50%. As a group, analysts forecast that PHX Minerals will post 0.12 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on PHX shares. Stifel Nicolaus reduced their price objective on PHX Minerals from $5.70 to $5.50 and set a "buy" rating on the stock in a report on Tuesday, January 23rd. Northland Securities reduced 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 given a buy rating to the company. Based on data from MarketBeat.com, PHX Minerals currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.20.

Insider Activity

In related news, Director Mark T. Behrman purchased 23,000 shares of the business'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 acquisition, the director now owns 173,704 shares of the company's stock, valued at approximately $559,326.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have purchased 27,500 shares of company stock worth $87,920. 6.40% of the stock is currently owned by company insiders.

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.