Zacks Investment Research lowered shares of Panhandle Oil and Gas (NYSE:PHX) from a strong-buy rating to a hold rating in a report issued on Tuesday morning, 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. “

Separately, Scotiabank downgraded shares of Bombardier from an outperform rating to a sector perform rating in a research report on Thursday, April 25th.

PHX stock opened at $12.74 on Tuesday. The firm’s 50 day moving average is $13.18. Panhandle Oil and Gas has a 12-month low of $12.22 and a 12-month high of $20.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.60 and a current ratio of 4.61. The firm has a market cap of $209.09 million, a P/E ratio of 37.47 and a beta of 0.51.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a dividend of $0.04 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.26%. Panhandle Oil and Gas’s dividend payout ratio (DPR) is 47.06%.

In other Panhandle Oil and Gas news, VP Freda Rose Webb acquired 3,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was acquired at an average cost of $13.75 per share, with a total value of $41,250.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders have bought 4,000 shares of company stock valued at $55,270. Corporate insiders own 7.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA grew its stake in Panhandle Oil and Gas by 1,732.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,299 shares of the oil and gas producer’s stock worth $52,000 after acquiring an additional 3,119 shares during the period. Bank of America Corp DE grew its stake in Panhandle Oil and Gas by 47.9% in the 4th quarter. Bank of America Corp DE now owns 10,703 shares of the oil and gas producer’s stock worth $166,000 after acquiring an additional 3,466 shares during the period. Metropolitan Life Insurance Co. NY grew its stake in Panhandle Oil and Gas by 265.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,267 shares of the oil and gas producer’s stock worth $97,000 after acquiring an additional 4,551 shares during the period. BlackRock Inc. grew its stake in Panhandle Oil and Gas by 0.5% in the 4th quarter. BlackRock Inc. now owns 1,171,021 shares of the oil and gas producer’s stock worth $18,151,000 after acquiring an additional 5,664 shares during the period. Finally, Rhumbline Advisers grew its stake in Panhandle Oil and Gas by 45.1% in the 4th quarter. Rhumbline Advisers now owns 22,157 shares of the oil and gas producer’s stock worth $343,000 after acquiring an additional 6,884 shares during the period. 59.47% of the stock is owned by hedge funds and other institutional investors.

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 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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