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

Zacks Investment Research lowered shares of Panhandle Oil and Gas (NYSE:PHX) from a buy rating to a hold rating in a report published 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. “

Several other brokerages have also commented on PHX. ValuEngine upgraded shares of Panhandle Oil and Gas from a sell rating to a hold rating in a research note on Tuesday, October 15th. TheStreet lowered shares of Panhandle Oil and Gas from a c rating to a d+ rating in a research note on Friday, December 13th.

Shares of NYSE:PHX opened at $9.53 on Friday. The company’s fifty day moving average price is $11.35 and its 200 day moving average price is $12.51. Panhandle Oil and Gas has a 12 month low of $9.41 and a 12 month high of $16.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.67 and a quick ratio of 4.67. The firm has a market capitalization of $158.98 million, a P/E ratio of 9.53 and a beta of 0.69.

Panhandle Oil and Gas (NYSE:PHX) last announced its quarterly earnings results on Thursday, December 12th. The oil and gas producer reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $1.27. Panhandle Oil and Gas had a negative net margin of 78.48% and a positive return on equity of 11.90%. The firm had revenue of $15.73 million for the quarter, compared to analyst estimates of $10.14 million. On average, sell-side analysts anticipate that Panhandle Oil and Gas will post -0.05 EPS for the current year.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of PHX. Wells Fargo & Company MN increased its stake in Panhandle Oil and Gas by 9.4% in the second quarter. Wells Fargo & Company MN now owns 145,333 shares of the oil and gas producer’s stock valued at $1,895,000 after purchasing an additional 12,485 shares during the period. Prudential Financial Inc. acquired a new position in Panhandle Oil and Gas in the second quarter valued at $260,000. Charles Schwab Investment Management Inc. increased its stake in Panhandle Oil and Gas by 4.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 38,754 shares of the oil and gas producer’s stock valued at $506,000 after purchasing an additional 1,824 shares during the period. Bank of New York Mellon Corp increased its stake in Panhandle Oil and Gas by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 126,084 shares of the oil and gas producer’s stock valued at $1,644,000 after purchasing an additional 2,750 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in Panhandle Oil and Gas by 16.5% in the second quarter. Parametric Portfolio Associates LLC now owns 43,434 shares of the oil and gas producer’s stock valued at $566,000 after purchasing an additional 6,165 shares during the period. Institutional investors own 60.08% of the company’s stock.

About Panhandle Oil and Gas

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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