Zacks: Brokerages Set $27.00 Target Price for Panhandle Oil and Gas Inc. (PHX)

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

Brokerages have set a 1-year consensus target price of $27.00 for the company and are predicting that the company will post $0.14 EPS for the current quarter, according to Zacks. Zacks has also assigned Panhandle Oil and Gas an industry rank of 52 out of 257 based on the ratings given to its competitors.

Shares of PHX stock opened at $17.95 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.28 and a quick ratio of 1.28. Panhandle Oil and Gas has a 52 week low of $17.10 and a 52 week high of $23.10. The company has a market capitalization of $309.23 million, a price-to-earnings ratio of 85.48 and a beta of 0.34.

Panhandle Oil and Gas (NYSE:PHX) last issued its earnings results on Monday, August 6th. The oil and gas producer reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.16). Panhandle Oil and Gas had a net margin of 32.61% and a return on equity of 1.95%. The company had revenue of $9.56 million during the quarter, compared to analyst estimates of $12.05 million. On average, analysts predict that Panhandle Oil and Gas will post 1.13 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Wednesday, November 21st will be paid a $0.04 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $0.16 dividend on an annualized basis and a yield of 0.89%. Panhandle Oil and Gas’s payout ratio is currently 76.19%.

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in Panhandle Oil and Gas by 105.6% in the second quarter. Bank of America Corp DE now owns 5,811 shares of the oil and gas producer’s stock valued at $111,000 after acquiring an additional 2,984 shares during the period. Renaissance Technologies LLC acquired a new position in Panhandle Oil and Gas in the second quarter valued at approximately $239,000. Deprince Race & Zollo Inc. acquired a new position in shares of Panhandle Oil and Gas during the third quarter worth approximately $284,000. UBS Group AG boosted its position in shares of Panhandle Oil and Gas by 188.0% during the first quarter. UBS Group AG now owns 15,704 shares of the oil and gas producer’s stock worth $303,000 after buying an additional 10,252 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Panhandle Oil and Gas during the third quarter worth approximately $334,000. Institutional investors own 58.88% 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.

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