Short Interest in PHX Minerals Inc. (NYSE:PHX) Increases By 43.0%

PHX Minerals Inc. (NYSE:PHX) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 175,300 shares, a growth of 43.0% from the February 28th total of 122,600 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 83,700 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in PHX Minerals by 14.3% in the fourth quarter. Bank of America Corp DE now owns 35,636 shares of the oil and gas producer’s stock worth $143,000 after purchasing an additional 4,465 shares in the last quarter. Empowered Funds LLC grew its position in shares of PHX Minerals by 4.9% in the 4th quarter. Empowered Funds LLC now owns 135,164 shares of the oil and gas producer’s stock worth $541,000 after buying an additional 6,320 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of PHX Minerals by 2.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 411,444 shares of the oil and gas producer’s stock worth $1,646,000 after acquiring an additional 9,720 shares in the last quarter. Barclays PLC purchased a new position in PHX Minerals during the 3rd quarter valued at about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in PHX Minerals during the third quarter worth about $44,000. Hedge funds and other institutional investors own 38.19% of the company’s stock.

PHX Minerals Trading Up 1.0 %

Shares of NYSE PHX traded up $0.04 during midday trading on Tuesday, hitting $3.99. 46,327 shares of the company traded hands, compared to its average volume of 59,040. PHX Minerals has a 12-month low of $3.09 and a 12-month high of $4.24. The firm has a market cap of $151.31 million, a P/E ratio of 30.69 and a beta of 0.51. The stock has a 50-day moving average price of $3.98 and a 200 day moving average price of $3.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.19 and a current ratio of 3.19.

PHX Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were issued a dividend of $0.04 per share. The ex-dividend date was Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.01%. PHX Minerals’s dividend payout ratio (DPR) is 266.67%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of PHX Minerals in a research report on Wednesday, March 26th. They set a “hold” rating on the stock.

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.