Edenbrook Capital LLC recently announced the acquisition of new stake in PHX Minerals Inc. (NYSE:PHX). The institutional investor has increased its shareholding in the Energy company by 2.48% to 5.25 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 14.37% valued currently at $20.42 million. In addition, The Vanguard Group, Inc. raised its holdings by 11400.0 to 1.21 million shares. And Dimensional Fund Advisors LP has lifted its position by 29.74% or 0.21 million shares – to 0.9 million shares.
With over 0.26 million PHX Minerals Inc. (PHX) shares trading Friday and a closing price of $4.00 on the day, the dollar volume was approximately $1.03 million. The shares have shown a positive half year performance of 41.84% and its price on 01/13/23 gained nearly 0.25%. Currently, there are 35.59M common shares owned by the public and among those 27.66M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for PHX have a consensus price objective of $5.73. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $4.00. But an upside of 42.86% will see the stock hit the forecast high price target while median target price for the stock is $6.20.
Insiders at the company have transacted a total of 30 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 854,642 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 171,909 shares.
The top 3 mutual fund holders in PHX Minerals Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Northern Lights Fund Trust II – B. Vanguard Total Stock Market Index owns 0.83 million shares of the company’s stock, all valued at over $3.24 million. The company bought an additional 41347.0 shares recently to bring their total holdings to about 2.28% of the shares outstanding. Northern Lights Fund Trust II – B now owns shares totaling to 0.78% of the shares outstanding.
Shares of PHX Minerals Inc. (NYSE: PHX) opened at $4.01, up $0.02 from a prior closing price of $3.99. However, the script later moved the day high at 4.0900, up 0.25%. The company’s stock has a 5-day price change of 5.26% and 6.95% over the past three months. PHX shares are trading 2.83% year to date (YTD), with the 12-month market performance up to 58.10% higher. It has a 12-month low price of $2.09 and touched a high of $4.98 over the same period. PHX has an average intraday trading volume of 174.45K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.24%, 5.84%, and 14.32% respectively.
Institutional ownership of PHX Minerals Inc. (NYSE: PHX) shares accounts for 45.10% of the company’s 35.59M shares outstanding. Mutual fund holders own 37.78%, while other institutional holders and individual stakeholders account for 9.39% and 26.07% respectively.
It has a market capitalization of $145.80M and a beta (3y monthly) value of 0.64. The stock’s trailing 12-month PE ratio is 6.85, while the earnings-per-share (ttm) stands at $0.58. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.05% over the week and 5.55% over the month.
Analysts forecast that PHX Minerals Inc. (PHX) will achieve an EPS of $0.2 for the current quarter, $0.22 for the next quarter and $0.97 for 2023. The lowest estimate earnings-per-share for the quarter is $0.15 while analysts give the company a high EPS estimate of $0.27. Comparatively, EPS for the current quarter was -$0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 346.30%, and 24.81% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate PHX Minerals Inc. (PHX) as a “Strong Buy” at a consensus score of 1.70. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PHX, a number of firms have released research notes about the stock. Northland Capital stated their Outperform rating for the stock in a research note on October 03, 2022, with the firm’s price target at $6. Wunderlich coverage for the PHX Minerals Inc. (PHX) stock in a research note released on June 18, 2009 offered a Buy rating with a price target of $30. Wunderlich was of a view on February 13, 2009 that the stock is Buy, while Wunderlich gave the stock Hold rating on January 30, 2009, issuing a price target of $21.