PHX Minerals Inc. (NYSE:PHX – Get Rating) declared a quarterly dividend on Tuesday, May 10, The Wall Street Journal reports. Shareholders of record on Thursday, May 19 will receive a dividend of 0.02 per share from the oil and gas producer on Friday, June 3. This represents a dividend of $0.08 on an annualized basis and a yield of 2.51%. The ex-dividend date is Wednesday, May 18. This is a positive change from PHX Minerals’ previous quarterly dividend of $0.02.
PHX Minerals has decreased its dividend payout by an average of 34.5% per year over the past three years and has increased its dividend each year for the past 1 years. PHX Minerals has a payout ratio of 8.6%, which means its dividend is sufficiently covered by earnings. Equity research analysts expect PHX Minerals to earn $0.70 per share next year, meaning the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 8.6%.
NYSE: PHX traded down $0.12 during Tuesday’s trading, hitting $3.19. The company’s shares had a trading volume of 256,498 shares, compared to an average volume of 297,202. The company has a market capitalization of $110.05 million, a price-earnings ratio of -331.00 and a beta of 0.63. The company has a debt ratio of 0.23, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50-day moving average of $3.15 and a 200-day moving average of $2.75. PHX Minerals has a 12-month low of $2.07 and a 12-month high of $4.37.
PHX Minerals (NYSE:PHX – Get Rating) last released its quarterly results on Monday, February 14. The oil and gas producer reported earnings per share of $0.13 for the quarter, beating the consensus estimate of $0.09 by $0.04. The company posted revenue of $16.60 million in the quarter, versus a consensus estimate of $12.15 million. PHX Minerals had a return on equity of 1.75% and a net margin of 3.24%.
Several research companies have recently weighed in on PHX. Zacks Investment Research upgraded PHX Minerals from a “sell” rating to a “hold” rating in a Wednesday, March 2 research note. TheStreet upgraded PHX Minerals from a “d+” to a “c-” rating in a Thursday, April 14 research note. Finally, StockNews.com downgraded PHX Minerals from a “buy” rating to a “hold” rating in a Wednesday, April 6 research rating. Two investment analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $3.75.
A number of institutional investors and hedge funds have recently changed their stock holdings. UBS Group AG increased its equity stake in PHX Minerals by 150.9% in the third quarter. UBS Group AG now owns 8,396 shares of the oil and gas producer valued at $25,000 after acquiring an additional 5,049 shares last quarter. Stifel Financial Corp increased its holdings of PHX Minerals shares by 137.3% in the fourth quarter. Stifel Financial Corp now owns 28,479 shares of the oil and gas producer valued at $62,000 after acquiring an additional 16,479 shares last quarter. Morgan Stanley increased its equity stake in PHX Minerals by 5,754.2% in Q2. Morgan Stanley now owns 29,271 shares of the oil and gas producer valued at $109,000 after acquiring 28,771 additional shares last quarter. Millennium Management LLC increased its equity stake in PHX Minerals by 30.0% in the second quarter. Millennium Management LLC now owns 47,656 shares of the oil and gas producer valued at $177,000 after acquiring 11,002 additional shares last quarter. Finally, Geode Capital Management LLC increased its stake in PHX Minerals shares by 29.4% in the 3rd quarter. Geode Capital Management LLC now owns 270,587 shares of the oil and gas producer valued at $827,000 after acquiring an additional 61,405 shares last quarter. 34.37% of the shares are currently held by institutional investors and hedge funds.
About PHX Minerals (Get a rating)
PHX Minerals Inc operates as a natural gas and petroleum 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. As of September 30, 2021, the Company had perpetual ownership of 251,600 net mineral acres; leased 18,298 net acres; and held working interests and royalty interests in 6,457 producing oil and natural gas wells, as well as 277 wells being drilled or completed.
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