Hodges Capital Management Inc. Acquires New Position in Panhandle Oil and Gas Inc. (PHX)

Hodges Capital Management Inc. acquired a new stake in Panhandle Oil and Gas Inc. (NYSE:PHX) in the 1st quarter, HoldingsChannel reports. The fund acquired 10,600 shares of the oil and gas producer’s stock, valued at approximately $166,000.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Panhandle Oil and Gas by 0.5% in the fourth quarter. BlackRock Inc. now owns 1,171,021 shares of the oil and gas producer’s stock valued at $18,151,000 after acquiring an additional 5,664 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Panhandle Oil and Gas by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 715,806 shares of the oil and gas producer’s stock valued at $11,095,000 after acquiring an additional 11,393 shares during the last quarter. Vanguard Group Inc boosted its holdings in Panhandle Oil and Gas by 0.3% in the third quarter. Vanguard Group Inc now owns 710,337 shares of the oil and gas producer’s stock valued at $13,106,000 after acquiring an additional 2,000 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in Panhandle Oil and Gas by 1,818.9% in the fourth quarter. Deprince Race & Zollo Inc. now owns 295,652 shares of the oil and gas producer’s stock valued at $4,583,000 after acquiring an additional 280,245 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Panhandle Oil and Gas by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 176,169 shares of the oil and gas producer’s stock valued at $2,730,000 after acquiring an additional 8,042 shares during the last quarter. Institutional investors and hedge funds own 60.51% of the company’s stock.

Several analysts recently commented on the company. Zacks Investment Research upgraded Panhandle Oil and Gas from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Saturday. Scotiabank reiterated a “buy” rating and issued a $4.50 target price on shares of Panhandle Oil and Gas in a report on Thursday, February 28th.

In other Panhandle Oil and Gas news, VP Raphael D’amico purchased 3,200 shares of the business’s stock in a transaction on Monday, February 11th. The shares were purchased at an average cost of $15.55 per share, for a total transaction of $49,760.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 7.20% of the stock is currently owned by corporate insiders.

Shares of PHX stock opened at $15.16 on Wednesday. Panhandle Oil and Gas Inc. has a one year low of $14.24 and a one year high of $22.25. The company has a market capitalization of $258.31 million, a P/E ratio of 44.59 and a beta of 0.55. The company has a current ratio of 4.48, a quick ratio of 4.48 and a debt-to-equity ratio of 0.30.

Panhandle Oil and Gas (NYSE:PHX) last announced its earnings results on Thursday, February 7th. The oil and gas producer reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.40. Panhandle Oil and Gas had a return on equity of 6.93% and a net margin of 30.36%. The business had revenue of $12.21 million for the quarter, compared to analysts’ expectations of $11.79 million. As a group, sell-side analysts anticipate that Panhandle Oil and Gas Inc. will post -0.02 EPS for the current fiscal year.

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Panhandle Oil and Gas Company Profile

Panhandle Oil and Gas Inc acquires, develops, and manages oil and natural gas properties in the United States. The company produces and sells natural gas, crude oil, and natural gas liquids. Its principal properties are located in Oklahoma, Arkansas, Texas, New Mexico, and North Dakota. As of September 30, 2018, the company owned perpetual ownership of 258,555 net mineral acres; leased 17,203 net acres; and held working interests and royalty interests in 6,079 producing oil and natural gas wells, as well as had 69 wells in the process of being drilled or completed.

Further Reading: What is a balanced fund?

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Institutional Ownership by Quarter for Panhandle Oil and Gas (NYSE:PHX)

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