Brokerages Anticipate Panhandle Oil and Gas Inc. (NYSE:PHX) to Post $0.03 Earnings Per Share

Shares of Panhandle Oil and Gas Inc. (NYSE:PHX) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Analysts have set a one year consensus price target of $23.50 for the company and are predicting that the company will post $0.03 earnings per share for the current quarter, according to Zacks. Zacks has also given Panhandle Oil and Gas an industry rank of 101 out of 256 based on the ratings given to related companies.

Several research firms recently issued reports on PHX. Zacks Investment Research raised Panhandle Oil and Gas from a “hold” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a research report on Friday, May 10th. Scotiabank reissued a “buy” rating and set a $5.00 price target on shares of Panhandle Oil and Gas in a research report on Thursday, April 25th.

In related news, VP Freda Rose Webb bought 3,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of $13.75 per share, with a total value of $41,250.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have purchased 4,000 shares of company stock worth $55,270. Corporate insiders own 7.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its position in Panhandle Oil and Gas by 1,732.8% in the first quarter. BNP Paribas Arbitrage SA now owns 3,299 shares of the oil and gas producer’s stock worth $52,000 after buying an additional 3,119 shares during the period. Bank of America Corp DE increased its position in Panhandle Oil and Gas by 47.9% in the fourth quarter. Bank of America Corp DE now owns 10,703 shares of the oil and gas producer’s stock worth $166,000 after buying an additional 3,466 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Panhandle Oil and Gas by 265.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,267 shares of the oil and gas producer’s stock worth $97,000 after buying an additional 4,551 shares during the period. BlackRock Inc. increased its position in Panhandle Oil and Gas by 0.5% in the fourth quarter. BlackRock Inc. now owns 1,171,021 shares of the oil and gas producer’s stock worth $18,151,000 after buying an additional 5,664 shares during the period. Finally, Rhumbline Advisers increased its position in Panhandle Oil and Gas by 45.1% in the fourth quarter. Rhumbline Advisers now owns 22,157 shares of the oil and gas producer’s stock worth $343,000 after buying an additional 6,884 shares during the period. 59.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PHX stock traded down $0.09 on Friday, hitting $12.58. 223 shares of the stock traded hands, compared to its average volume of 45,049. The company has a quick ratio of 4.60, a current ratio of 4.61 and a debt-to-equity ratio of 0.33. The company has a market cap of $207.95 million, a P/E ratio of 36.91 and a beta of 0.51. Panhandle Oil and Gas has a 1-year low of $12.60 and a 1-year high of $21.33. The stock’s fifty day moving average is $13.53.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Monday, June 3rd. Panhandle Oil and Gas’s dividend payout ratio is currently 47.06%.

Panhandle Oil and Gas Company Profile

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.

Recommended Story: What are the economic characteristics of a bear market?

Get a free copy of the Zacks research report on Panhandle Oil and Gas (PHX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Panhandle Oil and Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Panhandle Oil and Gas and related companies with MarketBeat.com's FREE daily email newsletter.