Shares of Panhandle Oil and Gas Inc. (NYSE:PHX) have earned a consensus 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 rating.
Analysts have set a one year consensus price objective of $23.50 for the company and are expecting 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 84 out of 256 based on the ratings given to its competitors.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Panhandle Oil and Gas from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Wednesday, April 24th. Scotiabank reissued a “buy” rating and set a $5.00 price target on shares of Panhandle Oil and Gas in a report on Thursday, April 25th.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its holdings in Panhandle Oil and Gas by 1,732.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,299 shares of the oil and gas producer’s stock valued at $52,000 after purchasing an additional 3,119 shares in the last quarter. Bank of America Corp DE boosted its holdings in Panhandle Oil and Gas by 47.9% in the 4th quarter. Bank of America Corp DE now owns 10,703 shares of the oil and gas producer’s stock valued at $166,000 after purchasing an additional 3,466 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings 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 purchasing an additional 4,551 shares in the last quarter. BlackRock Inc. boosted its holdings in Panhandle Oil and Gas by 0.5% in the 4th quarter. BlackRock Inc. now owns 1,171,021 shares of the oil and gas producer’s stock valued at $18,151,000 after purchasing an additional 5,664 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings 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 purchasing an additional 6,884 shares in the last quarter. 59.47% of the stock is currently owned by institutional investors.
Shares of NYSE PHX traded up $0.02 during midday trading on Thursday, reaching $13.37. 424 shares of the company were exchanged, compared to its average volume of 30,102. The company has a quick ratio of 4.60, a current ratio of 4.61 and a debt-to-equity ratio of 0.33. Panhandle Oil and Gas has a 1 year low of $12.73 and a 1 year high of $21.33. The firm has a market cap of $221.19 million, a P/E ratio of 39.24 and a beta of 0.54.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, June 3rd. Panhandle Oil and Gas’s dividend payout ratio is presently 47.06%.
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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