ValuEngine Downgrades Panhandle Oil and Gas (PHX) to Sell
ValuEngine lowered shares of Panhandle Oil and Gas (NYSE:PHX) from a hold rating to a sell rating in a research report released on Wednesday.
Separately, Roth Capital initiated coverage on Panhandle Oil and Gas in a research report on Thursday, February 22nd. They set a buy rating and a $27.00 target price on the stock.
Shares of Panhandle Oil and Gas (PHX) opened at $19.45 on Wednesday. Panhandle Oil and Gas has a 1 year low of $17.55 and a 1 year high of $25.30. The firm has a market capitalization of $304.94, a PE ratio of 16.91 and a beta of 0.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.74 and a current ratio of 2.74.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Tuesday, February 20th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, February 16th. Panhandle Oil and Gas’s dividend payout ratio (DPR) is presently 13.91%.
In other Panhandle Oil and Gas news, Director Robert Robotti sold 2,082 shares of Panhandle Oil and Gas stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $21.70, for a total transaction of $45,179.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director H Grant Swartzwelder sold 6,959 shares of Panhandle Oil and Gas stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $20.57, for a total value of $143,146.63. Following the sale, the director now directly owns 9,243 shares in the company, valued at $190,128.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,000 shares of company stock worth $331,473. 7.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new stake in Panhandle Oil and Gas during the third quarter valued at approximately $178,000. MetLife Investment Advisors LLC acquired a new stake in Panhandle Oil and Gas during the fourth quarter valued at approximately $161,000. Voya Investment Management LLC acquired a new stake in Panhandle Oil and Gas during the second quarter valued at approximately $246,000. Millennium Management LLC acquired a new stake in Panhandle Oil and Gas during the fourth quarter valued at approximately $232,000. Finally, Prudential Financial Inc. acquired a new stake in Panhandle Oil and Gas during the third quarter valued at approximately $298,000. 57.12% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This piece of content was published by Daily Political and is the sole property of of Daily Political. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2018/03/04/valuengine-downgrades-panhandle-oil-and-gas-phx-to-sell.html.
About Panhandle Oil and Gas
Panhandle Oil and Gas Inc is engaged in the acquisition, management and development of non-operated oil and natural gas properties, including wells located on its mineral and leasehold acreage. The Company’s mineral and leasehold properties are located primarily in Arkansas, New Mexico, North Dakota, Oklahoma and Texas, with properties also located in various other states.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Panhandle Oil and Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Panhandle Oil and Gas and related companies with MarketBeat.com's FREE daily email newsletter.