Panhandle Oil and Gas Inc. (NYSE:PHX) Shares Bought by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. increased its stake in shares of Panhandle Oil and Gas Inc. (NYSE:PHX) by 1,818.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 295,652 shares of the oil and gas producer’s stock after purchasing an additional 280,245 shares during the period. Deprince Race & Zollo Inc. owned approximately 1.77% of Panhandle Oil and Gas worth $4,583,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY boosted its position 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 valued at $97,000 after buying an additional 4,551 shares during the period. Bank of America Corp DE boosted its position in Panhandle Oil and Gas by 105.6% in the 2nd quarter. Bank of America Corp DE now owns 5,811 shares of the oil and gas producer’s stock valued at $111,000 after buying an additional 2,984 shares during the period. MetLife Investment Advisors LLC boosted its position in Panhandle Oil and Gas by 57.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 12,406 shares of the oil and gas producer’s stock valued at $229,000 after buying an additional 4,551 shares during the period. Rhumbline Advisers boosted its position 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 valued at $343,000 after buying an additional 6,884 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in Panhandle Oil and Gas by 68.1% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 30,469 shares of the oil and gas producer’s stock valued at $472,000 after buying an additional 12,340 shares during the period. 60.51% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Raphael D’amico purchased 3,200 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The shares were purchased at an average cost of $15.55 per share, for a total transaction of $49,760.00. The purchase was disclosed in a document filed with the SEC, which is available through this link. 7.20% of the stock is owned by company insiders.

Shares of PHX traded up $0.04 during midday trading on Friday, reaching $15.18. The stock had a trading volume of 11,428 shares, compared to its average volume of 17,167. Panhandle Oil and Gas Inc. has a 1-year low of $14.24 and a 1-year high of $22.25. The firm has a market capitalization of $253.31 million, a price-to-earnings ratio of 44.65 and a beta of 0.55. The company has a current ratio of 4.48, a quick ratio of 4.48 and a debt-to-equity ratio of 0.30.

Panhandle Oil and Gas (NYSE:PHX) last announced its quarterly earnings results on Thursday, February 7th. The oil and gas producer reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.40. Panhandle Oil and Gas had a net margin of 30.36% and a return on equity of 6.93%. The firm had revenue of $12.21 million for the quarter, compared to analyst estimates of $11.79 million. On average, analysts predict that Panhandle Oil and Gas Inc. will post -0.02 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on PHX. Zacks Investment Research upgraded shares of Panhandle Oil and Gas from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Wednesday, January 9th. Scotiabank restated a “buy” rating and issued a $4.50 price objective on shares of Panhandle Oil and Gas in a report on Thursday, February 28th.

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About Panhandle Oil and Gas

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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Institutional Ownership by Quarter for Panhandle Oil and Gas (NYSE:PHX)

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