PHX Minerals Inc. (NYSE:PHX) Sees Significant Drop in Short Interest

PHX Minerals Inc. (NYSE:PHX) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 122,600 shares, a drop of 21.5% from the February 13th total of 156,200 shares. Based on an average daily trading volume, of 91,900 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.4% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on PHX Minerals in a research note on Monday, March 10th. They issued a “hold” rating on the stock.

PHX Minerals Stock Performance

Shares of NYSE PHX traded up $0.09 during midday trading on Monday, reaching $4.02. 73,840 shares of the company traded hands, compared to its average volume of 58,856. PHX Minerals has a 52 week low of $3.01 and a 52 week high of $4.24. The stock has a 50-day moving average price of $3.97 and a 200 day moving average price of $3.74. 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 company has a market cap of $150.67 million, a price-to-earnings ratio of 30.93 and a beta of 0.51.

PHX Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Monday, March 17th. PHX Minerals’s payout ratio is currently 123.08%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barclays PLC acquired a new position in PHX Minerals during the third quarter worth about $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PHX Minerals during the 3rd quarter worth about $44,000. Total Wealth Planning & Management Inc. acquired a new stake in shares of PHX Minerals during the 4th quarter valued at about $72,000. Balyasny Asset Management L.P. acquired a new stake in shares of PHX Minerals during the 4th quarter valued at about $86,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in PHX Minerals in the 4th quarter worth approximately $106,000. 38.19% of the stock is owned by institutional investors and hedge funds.

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.