Stifel Nicolaus Cuts PHX Minerals (NYSE:PHX) Price Target to $4.70

PHX Minerals (NYSE:PHX – Get Rating) had its target price decreased by Stifel Nicolaus from $6.00 to $4.70 in a report issued on Monday, The Fly reports.

Several other analysts also recently issued reports on the company. Northland Securities lowered their price target on PHX Minerals from $7.00 to $5.50 and set an outperform rating for the company in a report on Monday, February 13th. StockNews.com initiated coverage on PHX Minerals in a report on Thursday, May 18th. They issued a hold rating for the company. Alliance Global Partners initiated coverage on PHX Minerals in a report on Monday, April 17th. They issued a buy rating and a $5.00 price target for the company. Finally, TheStreet lowered shares of PHX Minerals from a b- rating to a c+ rating in a report on Tuesday, March 28th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $5.07.

PHX Minerals Trading Down 3.0 %

NYSE PHX opened at $2.95 on Monday. PHX Minerals has a one year low of $2.33 and a one year high of $4.98. The firm has a market capitalization of $109.18 million, a price-to-earnings ratio of 3.37 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.13 and a current ratio of 5.13. The company’s 50 day moving average price is $2.68 and its 200 day moving average price is $3.23.

PHX Minerals Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Monday, May 22nd will be issued a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, May 19th. PHX Minerals’s dividend payout ratio is currently 10.34%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Edenbrook Capital LLC grew its holdings in PHX Minerals by 2.5% during the 3rd quarter. Edenbrook Capital LLC now owns 5,249,095 shares of the oil and gas producer’s stock worth $17,008,000 after acquiring an additional 127,024 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in PHX Minerals by 15.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,226,585 shares of the oil and gas producer’s stock worth $3,214,000 after buying an additional 162,708 shares during the last quarter. Vanguard Group Inc. lifted its holdings in PHX Minerals by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,219,070 shares of the oil and gas producer’s stock worth $3,950,000 after buying an additional 11,400 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in PHX Minerals by 4.6% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 808,276 shares of the oil and gas producer’s stock worth $2,118,000 after buying an additional 35,500 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in PHX Minerals by 2.2% during the 2nd quarter. Renaissance Technologies LLC now owns 475,933 shares of the oil and gas producer’s stock worth $1,447,000 after buying an additional 10,080 shares during the last quarter. 35.07% of the stock is owned by institutional investors and hedge funds.

About PHX Minerals

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PHX Minerals, Inc engages in the acquisition, management, and development of non-operated oil and natural gas properties, including wells located on the firm’s mineral and leasehold acreage. The company was founded on December 3, 1926 and is headquartered in Fort Worth, TX.