PHX Minerals (NYSE:PHX) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

PHX Minerals Inc. (NYSE:PHX - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.95 and traded as high as $4.33. PHX Minerals shares last traded at $4.33, with a volume of 408,711 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently commented on PHX. Johnson Rice lowered PHX Minerals from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Wall Street Zen started coverage on shares of PHX Minerals in a research note on Wednesday, May 21st. They set a "hold" rating on the stock.

PHX Minerals Price Performance

The stock has a fifty day moving average of $3.99 and a two-hundred day moving average of $3.96. 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 stock has a market capitalization of $164.01 million, a price-to-earnings ratio of 33.27 and a beta of 0.05.

PHX Minerals (NYSE:PHX - Get Free Report) last announced its earnings results on Thursday, May 8th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.08. PHX Minerals had a net margin of 12.33% and a return on equity of 4.16%. The company had revenue of $7.60 million during the quarter, compared to the consensus estimate of $10.26 million.

PHX Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were given a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.16 dividend on an annualized basis and a yield of 3.70%. PHX Minerals's payout ratio is 84.21%.

Hedge Funds Weigh In On PHX Minerals

Large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in PHX Minerals in the first quarter valued at approximately $27,000. Robotti Robert raised its position in shares of PHX Minerals by 19.7% in the 1st quarter. Robotti Robert now owns 17,177 shares of the oil and gas producer's stock valued at $68,000 after acquiring an additional 2,821 shares during the period. Total Wealth Planning & Management Inc. bought a new position in PHX Minerals during the 4th quarter worth approximately $72,000. OMERS ADMINISTRATION Corp acquired a new position in PHX Minerals during the first quarter valued at approximately $77,000. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of 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 valued at $78,000 after buying an additional 4,942 shares during the period. Institutional investors and hedge funds own 38.19% of the company's stock.

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.