Zacks: Panhandle Oil and Gas Inc. (NYSE:PHX) Given Consensus Rating of “Strong Buy” by Analysts

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

Brokerages have set a twelve-month consensus price target of $23.50 for the company and are expecting that the company will post $0.03 EPS for the current quarter, according to Zacks. Zacks has also assigned Panhandle Oil and Gas an industry rank of 186 out of 256 based on the ratings given to related companies.

PHX has been the subject of several analyst reports. Scotiabank reissued a “buy” rating and issued a $5.00 price objective on shares of Panhandle Oil and Gas in a research note on Thursday, April 25th. Zacks Investment Research downgraded shares of Panhandle Oil and Gas from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th.

NYSE PHX traded up $0.04 during trading on Friday, hitting $11.29. The stock had a trading volume of 29,334 shares, compared to its average volume of 32,611. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.61 and a quick ratio of 4.60. The stock has a market cap of $186.39 million, a PE ratio of 23.44 and a beta of 0.56. Panhandle Oil and Gas has a one year low of $11.03 and a one year high of $19.75. The firm’s 50 day moving average price is $12.53.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Wednesday, August 21st. Panhandle Oil and Gas’s dividend payout ratio (DPR) is presently 47.06%.

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

Several large investors have recently modified their holdings of the company. Trigran Investments Inc. increased its position in shares of Panhandle Oil and Gas by 4.0% during the first quarter. Trigran Investments Inc. now owns 2,261,942 shares of the oil and gas producer’s stock worth $35,513,000 after acquiring an additional 86,873 shares during the period. BlackRock Inc. increased its position in shares of Panhandle Oil and Gas by 0.5% during the fourth quarter. BlackRock Inc. now owns 1,171,021 shares of the oil and gas producer’s stock worth $18,151,000 after acquiring an additional 5,664 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Panhandle Oil and Gas by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 715,806 shares of the oil and gas producer’s stock worth $11,095,000 after acquiring an additional 11,393 shares during the period. Deprince Race & Zollo Inc. increased its position in shares of Panhandle Oil and Gas by 27.0% during the first quarter. Deprince Race & Zollo Inc. now owns 375,380 shares of the oil and gas producer’s stock worth $5,893,000 after acquiring an additional 79,728 shares during the period. Finally, Punch & Associates Investment Management Inc. increased its position in shares of Panhandle Oil and Gas by 8.3% during the first quarter. Punch & Associates Investment Management Inc. now owns 222,610 shares of the oil and gas producer’s stock worth $3,495,000 after acquiring an additional 17,000 shares during the period. 59.47% of the stock is currently owned by institutional investors and hedge funds.

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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