PHX Minerals Inc. (NYSE:PHX) Announces $0.04 Quarterly Dividend

PHX Minerals Inc. (NYSE:PHX) announced a quarterly dividend on Friday, May 9th, Wall Street Journal reports. Shareholders of record on Tuesday, May 20th will be given a dividend of 0.04 per share by the oil and gas producer on Wednesday, June 4th. This represents a $0.16 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Tuesday, May 20th.

PHX Minerals has increased its dividend by an average of 51.8% per year over the last three years and has raised its dividend every year for the last 4 years. PHX Minerals has a payout ratio of 57.1% meaning its dividend is sufficiently covered by earnings.

PHX Minerals Price Performance

Shares of PHX opened at $4.34 on Friday. The company has a market capitalization of $164.39 million, a price-to-earnings ratio of 33.35 and a beta of -0.01. PHX Minerals has a fifty-two week low of $3.09 and a fifty-two week high of $4.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.19 and a quick ratio of 3.19. The business’s 50-day moving average is $3.90 and its 200-day moving average is $3.88.

PHX Minerals (NYSE:PHX) last issued its earnings results on Thursday, May 8th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. PHX Minerals had a return on equity of 4.16% and a net margin of 12.33%. The company had revenue of $7.60 million for the quarter, compared to the consensus estimate of $10.26 million.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on PHX Minerals in a report on Tuesday, May 13th. They set a “hold” rating on the stock.

Hedge Funds Weigh In On PHX Minerals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its holdings in PHX Minerals by 6.9% during the first quarter. Empowered Funds LLC now owns 144,520 shares of the oil and gas producer’s stock valued at $571,000 after purchasing an additional 9,356 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of PHX Minerals by 226.2% in the first quarter. Goldman Sachs Group Inc. now owns 54,134 shares of the oil and gas producer’s stock worth $214,000 after acquiring an additional 37,537 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in PHX Minerals in the first quarter worth $27,000. Institutional investors and hedge funds 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.