Hodges Capital Management Inc. Invests $166,000 in Panhandle Oil and Gas Inc. (PHX)

Hodges Capital Management Inc. bought a new stake in Panhandle Oil and Gas Inc. (NYSE:PHX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,600 shares of the oil and gas producer’s stock, valued at approximately $166,000. Hodges Capital Management Inc. owned 0.06% of Panhandle Oil and Gas as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in PHX. BlackRock Inc. boosted its position in shares of Panhandle Oil and Gas by 0.6% in the third quarter. BlackRock Inc. now owns 1,165,357 shares of the oil and gas producer’s stock valued at $21,502,000 after acquiring an additional 6,903 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Panhandle Oil and Gas by 4.5% in the third quarter. Dimensional Fund Advisors LP now owns 704,413 shares of the oil and gas producer’s stock valued at $12,997,000 after acquiring an additional 30,373 shares during the period. MetLife Investment Advisors LLC boosted its position in shares of Panhandle Oil and Gas by 57.9% in the third quarter. MetLife Investment Advisors LLC now owns 12,406 shares of the oil and gas producer’s stock valued at $229,000 after acquiring an additional 4,551 shares during the period. Vanguard Group Inc lifted its position in Panhandle Oil and Gas by 0.3% during the third quarter. Vanguard Group Inc now owns 710,337 shares of the oil and gas producer’s stock worth $13,106,000 after purchasing an additional 2,000 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its position in Panhandle Oil and Gas by 1,818.9% during the fourth quarter. Deprince Race & Zollo Inc. now owns 295,652 shares of the oil and gas producer’s stock worth $4,583,000 after purchasing an additional 280,245 shares during the period. 60.51% of the stock is owned by institutional investors.

In other news, VP Raphael D’amico acquired 3,200 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The stock was acquired at an average price of $15.55 per share, with a total value of $49,760.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.20% of the company’s stock.

PHX opened at $15.16 on Wednesday. Panhandle Oil and Gas Inc. has a twelve month low of $14.24 and a twelve month high of $22.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.48 and a quick ratio of 4.48. The stock has a market cap of $258.31 million, a P/E ratio of 44.59 and a beta of 0.55.

Panhandle Oil and Gas (NYSE:PHX) last posted its quarterly earnings data on Thursday, February 7th. The oil and gas producer reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.40. Panhandle Oil and Gas had a net margin of 30.36% and a return on equity of 6.93%. The business had revenue of $12.21 million during the quarter, compared to analysts’ expectations of $11.79 million. As a group, analysts anticipate that Panhandle Oil and Gas Inc. will post -0.02 EPS for the current fiscal year.

PHX has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Panhandle Oil and Gas from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Saturday. Scotiabank reaffirmed a “buy” rating and set a $4.50 price objective on shares of Panhandle Oil and Gas in a research report on Thursday, February 28th.

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Panhandle Oil and Gas 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.

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Institutional Ownership by Quarter for Panhandle Oil and Gas (NYSE:PHX)

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