Panhandle Oil and Gas Inc. (PHX) Given $23.50 Consensus Price Target by Analysts

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

Analysts have set a 12-month consensus price objective of $23.50 for the company and are predicting that the company will post ($0.02) earnings per share for the current quarter, according to Zacks. Zacks has also given Panhandle Oil and Gas an industry rank of 147 out of 255 based on the ratings given to its competitors.

A number of brokerages have commented on PHX. Zacks Investment Research cut Panhandle Oil and Gas from a “buy” rating to a “hold” rating in a report on Wednesday. Scotiabank reiterated a “buy” rating and set a $4.50 target price on shares of Panhandle Oil and Gas in a report on Thursday, February 28th.

NYSE PHX traded up $0.04 during mid-day trading on Thursday, hitting $15.18. The stock had a trading volume of 11,052 shares, compared to its average volume of 25,283. Panhandle Oil and Gas has a 52-week low of $14.24 and a 52-week high of $22.25. The company has a market capitalization of $251.97 million, a P/E ratio of 44.65 and a beta of 0.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.48 and a quick ratio of 4.48.

Panhandle Oil and Gas (NYSE:PHX) last released its quarterly earnings data on Thursday, February 7th. The oil and gas producer reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.40. Panhandle Oil and Gas had a return on equity of 6.93% and a net margin of 30.36%. The firm had revenue of $12.21 million during the quarter, compared to the consensus estimate of $11.79 million. On average, research analysts expect that Panhandle Oil and Gas will post -0.02 earnings per share for the current fiscal year.

In related news, VP Raphael D’amico bought 3,200 shares of the stock in a transaction on Monday, February 11th. The shares were purchased at an average price of $15.55 per share, for a total transaction of $49,760.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc boosted its stake in Panhandle Oil and Gas by 0.3% in the third quarter. Vanguard Group Inc now owns 710,337 shares of the oil and gas producer’s stock valued at $13,106,000 after acquiring an additional 2,000 shares during the period. Bank of America Corp DE lifted its position in Panhandle Oil and Gas by 47.9% during the 4th quarter. Bank of America Corp DE now owns 10,703 shares of the oil and gas producer’s stock worth $166,000 after acquiring an additional 3,466 shares during the last quarter. MetLife Investment Advisors LLC lifted its position in Panhandle Oil and Gas by 57.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 12,406 shares of the oil and gas producer’s stock worth $229,000 after acquiring an additional 4,551 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Panhandle Oil and Gas by 265.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,267 shares of the oil and gas producer’s stock worth $97,000 after acquiring an additional 4,551 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Panhandle Oil and Gas by 0.5% during the 4th 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 last quarter. Institutional investors and hedge funds own 60.51% of the company’s stock.

Panhandle Oil and Gas Company 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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