PHX Minerals (NYSE:PHX) Stock Crosses Above 200-Day Moving Average of $3.22

Shares of PHX Minerals Inc. (NYSE:PHX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.22 and traded as high as $3.38. PHX Minerals shares last traded at $3.36, with a volume of 96,991 shares trading hands.

Wall Street Analyst Weigh In

Separately, Northland Securities reduced their target price on shares of PHX Minerals from $5.00 to $4.30 and set an “outperform” rating for the company 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.20.

PHX Minerals Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.25, a current ratio of 4.51 and a quick ratio of 4.51. The company has a 50-day moving average price of $3.25 and a 200 day moving average price of $3.22. The firm has a market capitalization of $123.62 million, a PE ratio of 30.00 and a beta of 0.56.

PHX Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 31st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Friday, May 31st. PHX Minerals’s dividend payout ratio (DPR) is currently 109.10%.

Hedge Funds Weigh In On PHX Minerals

Several hedge funds have recently modified their holdings of the stock. Cerity Partners LLC purchased a new position in shares of PHX Minerals in the fourth quarter valued at $79,000. PFG Investments LLC bought a new position in PHX Minerals during the first quarter valued at $82,000. Victory Capital Management Inc. bought a new stake in shares of PHX Minerals in the 4th quarter worth about $84,000. Ritholtz Wealth Management raised its position in shares of PHX Minerals by 220.4% during the 4th quarter. Ritholtz Wealth Management now owns 35,438 shares of the oil and gas producer’s stock valued at $114,000 after buying an additional 24,378 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in PHX Minerals by 8.2% during the 1st 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. Hedge funds and other institutional investors own 38.19% of the company’s stock.

About PHX Minerals

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.