PHX Minerals (NYSE:PHX) Stock Price Passes Below 200 Day Moving Average of $3.01

PHX Minerals Inc. (NYSE:PHX)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.01 and traded as low as $2.76. PHX Minerals shares last traded at $2.99, with a volume of 423,454 shares.

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.16 and a quick ratio of 1.16. The firm’s 50 day moving average is $2.84 and its 200 day moving average is $3.01. The firm has a market cap of $90.90 million, a P/E ratio of -17.59 and a beta of 1.13.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Thursday, August 26th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Wednesday, August 25th. PHX Minerals’s payout ratio is currently 80.00%.

In other PHX Minerals news, major shareholder Edenbrook Capital, Llc acquired 77,065 shares of the company’s stock in a transaction that occurred on Friday, August 6th. The shares were acquired at an average price of $3.00 per share, with a total value of $231,195.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 386,329 shares of company stock worth $1,042,610 in the last three months. 4.10% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in shares of PHX Minerals during the second quarter valued at approximately $262,000. Morgan Stanley increased its holdings in PHX Minerals by 5,754.2% during the second quarter. Morgan Stanley now owns 29,271 shares of the oil and gas producer’s stock valued at $109,000 after buying an additional 28,771 shares during the last quarter. Millennium Management LLC increased its holdings in PHX Minerals by 30.0% during the second quarter. Millennium Management LLC now owns 47,656 shares of the oil and gas producer’s stock valued at $177,000 after buying an additional 11,002 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in PHX Minerals by 28.7% during the second quarter. Bridgeway Capital Management LLC now owns 172,900 shares of the oil and gas producer’s stock valued at $643,000 after buying an additional 38,600 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in PHX Minerals by 12.3% during the second quarter. Squarepoint Ops LLC now owns 73,269 shares of the oil and gas producer’s stock valued at $273,000 after buying an additional 8,035 shares during the last quarter. 40.41% of the stock is owned by hedge funds and other institutional investors.

About PHX Minerals (NYSE:PHX)

PHX Minerals, Inc engages in the acquisition, management, and development of non-operated oil and natural gas properties, including wells located on the firm’s mineral and leasehold acreage. Its products include natural gas, crude oil and NGL. The company was founded in 1926 and is headquartered in Oklahoma City, OK.

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