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

StockNews.com started coverage on shares of PHX Minerals (NYSE:PHX - Free Report) in a report issued on Sunday. The firm issued a hold rating on the oil and gas producer's stock.

PHX Minerals Stock Down 2.8 %

Shares of PHX stock traded down $0.11 during midday trading on Friday, reaching $3.87. 35,454 shares of the stock were exchanged, compared to its average volume of 61,727. The firm has a market cap of $146.76 million, a PE ratio of 29.77 and a beta of 0.12. The company's 50 day moving average is $3.87 and its two-hundred day moving average is $3.84. PHX Minerals has a 1 year low of $3.09 and a 1 year high of $4.25. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.22.

PHX Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a yield of 4.13%. PHX Minerals's dividend payout ratio (DPR) is currently 266.67%.

Hedge Funds Weigh In On PHX Minerals

Several large investors have recently made changes to their positions in PHX. Barclays PLC bought a new position in PHX Minerals during the 3rd quarter valued at approximately $37,000. Total Wealth Planning & Management Inc. bought a new position in shares of PHX Minerals during the fourth quarter valued at $72,000. Oppenheimer Asset Management Inc. boosted its stake in PHX Minerals by 33.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,674 shares of the oil and gas producer's stock worth $78,000 after purchasing an additional 4,942 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in PHX Minerals during the 4th quarter valued at about $86,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in PHX Minerals during the 4th quarter valued at about $106,000. 38.19% of the stock is currently owned by hedge funds and other institutional investors.

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.