In a recent transaction, Chad True, the Principal Accounting Officer of PHX Minerals Inc. (NYSE:PHX), purchased 1,000 shares of the company's common stock. The transaction took place on March 26, 2024, with the shares acquired at a price of $3.22 each, amounting to a total investment of $3,220.
This purchase has increased True's direct holdings in PHX Minerals Inc. to 74,020 shares. It is important to note that the total number of shares now owned by True includes restricted shares which are subject to vesting based on performance criteria and elapsed time.
PHX Minerals Inc., headquartered in Fort Worth, Texas, operates within the crude petroleum and natural gas industry. The company, formerly known as Panhandle Oil & Gas Inc., has a history dating back to its previous name changes from Panhandle Royalty Co.
Investors often keep a close eye on insider transactions like these, as they can provide insights into an executive's confidence in the company's future performance. The recent acquisition by True could be seen as a positive signal to the market about the company's prospects.
The transaction was publicly filed as required, and the details are accessible for investors who wish to review the specifics of the stock purchase by the company executive.
InvestingPro Insights
Following the insider purchase by Chad True, Principal Accounting Officer of PHX Minerals Inc., investors might be seeking a deeper understanding of the company's financial health and market performance. According to recent data from InvestingPro, PHX Minerals Inc. has a market capitalization of $121.25 million and an attractive price-to-earnings (P/E) ratio of 8.48, which is below the adjusted P/E ratio for the last twelve months as of Q4 2023, standing at 11.98. This could indicate that the company's stock is currently trading at a lower multiple of its earnings compared to the recent past, potentially offering a value opportunity for investors.
One of the notable InvestingPro Tips for PHX Minerals Inc. is the company's impressive gross profit margin, which was reported at 85.24% for the last twelve months as of Q4 2023. This high margin suggests that PHX is efficient in managing its production costs relative to its revenues. Additionally, PHX has maintained dividend payments for 41 consecutive years, with a current dividend yield of 3.81%, highlighting its commitment to returning value to shareholders.
For those interested in additional insights, there are more InvestingPro Tips available, including the company's low price volatility and the expectation of profitability for the current year. To explore these further, visit https://www.investing.com/pro/PHX for a comprehensive analysis. Don't forget to utilize the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to a wealth of financial data and expert analysis that can assist in making informed investment decisions.
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