Panhandle Oil and Gas (NYSE:PHX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Panhandle Oil and Gas (NYSE:PHX) from a buy rating to a hold rating in a report released on Saturday, Zacks.com reports.

According to Zacks, “Panhandle Royalty Company is engaged in the ownership, acquisition and management of mineral properties and the exploration for and development of oil and gas properties, principally involving wells located on the Company’s mineral interests. Panhandle and its wholly owned subsidiary, Wood Oil Company, mineral properties and other oil and gas interests are located primarily in Oklahoma New Mexico, Texas, and twenty other states. “

A number of other analysts also recently issued reports on the stock. ValuEngine upgraded shares of Panhandle Oil and Gas from a sell rating to a hold rating in a report on Tuesday, October 15th. TheStreet downgraded shares of Panhandle Oil and Gas from a c rating to a d+ rating in a report on Friday, December 13th.

PHX stock opened at $9.53 on Friday. The company has a market cap of $158.98 million, a price-to-earnings ratio of 9.53 and a beta of 0.69. The company has a current ratio of 4.67, a quick ratio of 4.67 and a debt-to-equity ratio of 0.45. Panhandle Oil and Gas has a 12 month low of $9.41 and a 12 month high of $16.97. The firm has a 50-day moving average of $11.35 and a two-hundred day moving average of $12.51.

Panhandle Oil and Gas (NYSE:PHX) last released its quarterly earnings data on Thursday, December 12th. The oil and gas producer reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $1.27. The company had revenue of $15.73 million during the quarter, compared to the consensus estimate of $10.14 million. Panhandle Oil and Gas had a negative net margin of 78.48% and a positive return on equity of 11.90%. As a group, equities analysts forecast that Panhandle Oil and Gas will post -0.05 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.04 per share. The ex-dividend date is Wednesday, February 19th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.68%. Panhandle Oil and Gas’s dividend payout ratio is currently 16.00%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Panhandle Oil and Gas during the 3rd quarter worth approximately $2,921,000. California Public Employees Retirement System boosted its position in shares of Panhandle Oil and Gas by 5.7% during the 3rd quarter. California Public Employees Retirement System now owns 187,301 shares of the oil and gas producer’s stock worth $2,618,000 after purchasing an additional 10,100 shares during the period. Disciplined Growth Investors Inc. MN boosted its position in shares of Panhandle Oil and Gas by 2.8% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 368,305 shares of the oil and gas producer’s stock worth $5,149,000 after purchasing an additional 10,020 shares during the period. Rhumbline Advisers boosted its position in shares of Panhandle Oil and Gas by 8.6% during the 3rd quarter. Rhumbline Advisers now owns 24,928 shares of the oil and gas producer’s stock worth $348,000 after purchasing an additional 1,982 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Panhandle Oil and Gas by 9.4% during the 2nd quarter. Wells Fargo & Company MN now owns 145,333 shares of the oil and gas producer’s stock worth $1,895,000 after purchasing an additional 12,485 shares during the period. Institutional investors and hedge funds own 60.08% of the company’s stock.

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.

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