Panhandle Oil and Gas Inc. (PHX) Declares $0.04 Quarterly Dividend
Panhandle Oil and Gas Inc. (NYSE:PHX) announced a quarterly dividend on Monday, October 29th, Wall Street Journal reports. Investors of record on Wednesday, November 21st will be given a dividend of 0.04 per share by the oil and gas producer on Thursday, December 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, November 20th.
Panhandle Oil and Gas has a payout ratio of 14.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Panhandle Oil and Gas to earn $0.55 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 29.1%.
NYSE:PHX opened at $16.93 on Monday. Panhandle Oil and Gas has a 52 week low of $16.52 and a 52 week high of $23.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market cap of $284.06 million, a P/E ratio of 80.62 and a beta of 0.34.
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 mineral and leasehold properties are located in Arkansas, New Mexico, North Dakota, Oklahoma, and Texas. As of September 30, 2017, the company owned perpetual ownership of 255,039 net mineral acres; leased 19,351 net acres; and held working and royalty interests in 6,095 producing oil and natural gas wells, as well as 63 wells in the process of being drilled or completed.
See Also: Initial Public Offering (IPO)
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