Panhandle Royalty Company (PHX) Raised to “Sell” at BidaskClub
Panhandle Royalty Company (NYSE:PHX) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Saturday.
Separately, TheStreet upgraded shares of Panhandle Royalty from a “d+” rating to a “c” rating in a research note on Friday, May 5th.
Shares of Panhandle Royalty (PHX) traded up 2.73% during midday trading on Friday, hitting $20.70. 31,857 shares of the company were exchanged. Panhandle Royalty has a one year low of $15.67 and a one year high of $27.70. The stock has a market cap of $345.09 million, a PE ratio of 108.38 and a beta of 0.55. The stock’s 50-day moving average is $21.58 and its 200-day moving average is $20.47.
Panhandle Royalty (NYSE:PHX) last released its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.07 EPS for the quarter. Panhandle Royalty had a net margin of 7.41% and a return on equity of 2.82%. The business had revenue of $12.44 million for the quarter. Equities research analysts anticipate that Panhandle Royalty will post $1.70 EPS for the current year.
A number of large investors have recently bought and sold shares of the company. Royce & Associates LP boosted its stake in Panhandle Royalty by 8.1% in the second quarter. Royce & Associates LP now owns 201,000 shares of the oil and gas producer’s stock valued at $4,643,000 after buying an additional 15,000 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Panhandle Royalty by 89.3% in the second quarter. Alliancebernstein L.P. now owns 19,292 shares of the oil and gas producer’s stock valued at $446,000 after buying an additional 9,100 shares in the last quarter. Financial Counselors Inc. purchased a new stake in Panhandle Royalty during the second quarter valued at $1,391,000. Trigran Investments Inc. boosted its stake in Panhandle Royalty by 3.9% in the second quarter. Trigran Investments Inc. now owns 1,933,326 shares of the oil and gas producer’s stock valued at $44,660,000 after buying an additional 73,382 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Panhandle Royalty by 5.8% in the second quarter. TIAA CREF Investment Management LLC now owns 42,271 shares of the oil and gas producer’s stock valued at $976,000 after buying an additional 2,336 shares in the last quarter. 53.96% of the stock is owned by institutional investors and hedge funds.
About Panhandle Royalty
Panhandle Oil and Gas Inc is engaged in the acquisition, management and development of non-operated oil and natural gas properties, including wells located on its mineral and leasehold acreage. The Company’s mineral and leasehold properties are located primarily in Arkansas, New Mexico, North Dakota, Oklahoma and Texas, with properties also located in various other states.
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