Panhandle Oil and Gas (PHX) Downgraded by ValuEngine

ValuEngine cut shares of Panhandle Oil and Gas (NYSE:PHX) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

Separately, Roth Capital started coverage on shares of Panhandle Oil and Gas in a research note on Thursday, February 22nd. They set a buy rating and a $27.00 target price for the company.

Shares of PHX opened at $20.85 on Tuesday. The firm has a market cap of $338.04 million, a price-to-earnings ratio of 99.29 and a beta of 0.49. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.33. Panhandle Oil and Gas has a 1-year low of $17.65 and a 1-year high of $25.30.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 19th. Shareholders of record on Tuesday, June 5th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, June 4th. This represents a $0.16 dividend on an annualized basis and a yield of 0.77%. Panhandle Oil and Gas’s dividend payout ratio is presently 76.19%.

A number of institutional investors and hedge funds have recently made changes to their positions in PHX. MetLife Investment Advisors LLC purchased a new stake in Panhandle Oil and Gas during the 4th quarter valued at $161,000. Millennium Management LLC purchased a new stake in Panhandle Oil and Gas during the 4th quarter valued at $232,000. UBS Group AG raised its stake in Panhandle Oil and Gas by 188.0% during the 1st quarter. UBS Group AG now owns 15,704 shares of the oil and gas producer’s stock valued at $303,000 after buying an additional 10,252 shares during the last quarter. Wells Fargo & Company MN raised its stake in Panhandle Oil and Gas by 122.1% during the 4th quarter. Wells Fargo & Company MN now owns 29,522 shares of the oil and gas producer’s stock valued at $607,000 after buying an additional 16,231 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Panhandle Oil and Gas by 13.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 34,600 shares of the oil and gas producer’s stock valued at $712,000 after buying an additional 4,200 shares during the last quarter. Institutional investors and hedge funds own 57.77% of the company’s stock.

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 mineral and leasehold properties are located in Arkansas, New Mexico, North Dakota, Oklahoma, and Texas. As of September 30, 2017, the company owned perpetual ownership of 255,039 net mineral acres; leased 19,351 net acres; and held working and royalty interests in 6,095 producing oil and natural gas wells, as well as 63 wells in the process of being drilled or completed.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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